GOLD, Friday forecast, August 16

The downtrend may be expected to continue, while pair is trading below resistance level 1511.30, which will be followed by reaching support level 1501 - 1497.
An uptrend will start as soon, as the pair rises above resistance level 1511.30, which will be followed by moving up to resistance level 1522.

Chart

 

Weekly forecast, August 12 - 16

The uptrend may be expected to continue, while pair is trading above support level 1489, which will be followed by reaching resistance level 1522 - 1532.
An downtrend will start as soon, as the pair drops below support level 1488, which will be followed by moving down to support level 1470 and 1446.

Chart

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD falls off the highs amid trade wars, weak German figures

EUR/USD is falling toward 1.1100. The German IFO Business Climate dropped to 94.3 points, below expectations. Markets are concerned by the intensifying US-Sino trade wars.

EUR/USD News

GBP/USD consolidates amid Brexit uncertainty

GBP/USD is trading below 1.2300, consolidating its gains. The UK and the EU have been blaming each other for a potential no-deal Brexit. US-Sino tensions are in play as well.

GBP/USD News

USD/JPY recovers farther from multi-year lows on Trump’s positive trade-related comments

The incoming positive trade-related comments dented the JPY’s safe-haven demand. Improving global risk sentiment helped the pair to recover around 150-pips intraday. Investors now look forward to the US durable goods orders data for a fresh impetus.

USD/JPY News

Forex Today: Trade wars paint markets in red, Brexit looks worse, and central banks are limited

Here is what you need to know on Monday, August 26th: The US-Sino trade war is painting global markets in the red. The US dollar is losing some ground to major currencies as yields plunge, while it gains against commodity currencies. Gold is rising and oil is falling.

Read more

Gold retreats from multi-year tops, fills weekly bullish gap on positive trade headlines

Gold extended its intraday pullback from fresh multi-year tops and dropped to fresh session lows in the last hour, filling the weekly bullish gap. The US-China trade tensions escalated further.

Gold News

Majors

Cryptocurrencies

Signatures