Gold

The yellow metal's price managed to break the resistance of simple moving hourly averages on Friday. However, on Monday the metal's price ignored the support of these levels and declined down to 1,310.00. 

Making forecasts for the commodity price at the moment is rather complicated. In general, watch the price action near each of the simple moving averages and the pivot point level at 1,308.45.

If the PP gets passed, a decline should occur. On the other hand a step by step passing of the SMAs might result in a surge up to the 1,320.00 level.

xauusd

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Analysis feed

Latest Forex Analysis

Editors’ Picks

GBP/USD: Recovery falters just shy of 1.3400 ahead of UK PMIs

GBP/USD recovers nearly 90-pips from Friday’s NY low of 1.3306 but faces stiff resistance at 1.3400. Brexit optimism to keep the sentiment lifted around the pound. The focus remains on the UK Markit Preliminary PMIs ahead of BOE.

GBP/USD News

AUD/USD struggles to gather upside traction despite upbeat China data

AUD/USD is struggling to build bullish momentum despite the above-forecast China data. The bullish pressure remains weak, possibly due to the news that China is planning to lower its 2020 GDP target to 6% from the current year's 6.5%. 

AUD/USD News

USD/JPY bulls cling to trade deal hopes on 109 handle

USD/JPY has opened the week on the backfoot but has stablised above four-hour bullish moving averages, as well as the rising 21-DMA while risk appetite remains elevated. USD/JPY is currently trading at 109.35.

USD/JPY News

Gold: Flatlined after the biggest weekly gain since September

Gold is lacking a clear directional bias in Asia, having eked out its biggest weekly gain in nearly three months. The yellow metal is currently trading at $1,474 per Oz, representing little or no change on the day.

Gold News

Central Bank Meetings and Flash PMI Reports, but It's Over except for the Shouting

After last week's flurry of events, market activity is set to slow over the next three weeks.  But what a flurry of events it was.  A new NAFTA apparently has been agreed. This week's highlights include the flash PMIs and several central bank meetings.

Read more

Forex Majors

Cryptocurrencies

Signatures