Gold flirting with psychological resistance ( year 2013) and looking 2011 year resistance?

Gold is has surpassed $1,817, the highest since 2011 Resistance.
Gold Correction Required downside before looking the Year 2011 Resistance 1905$.

M.Ali Zah All My Pips

Gold has been trading upwards and we got a continuation of the bigger upward trend. Since the Gold did break of $1,760 there is potential for the bigger rise towards the $1,815 ( 2013 Year Resistance)

Gold has resumed the bullish movement and now is pressuring the $1,815 level Crossing 2013 Year Resistance if price hold above 1815$ and stable that's confirmation of break out the 2013 Year Resistance.

Technically, the price is expected to take out this obstacle and to approach and reach fresh new highs. The uptrend was confirmed by several retests of dynamic support, I believe that only a significant reversal pattern on the $1,825 could send the quote down again for big correction for looking 2011 Year Resistance 1905$ later this year.

The last bullish candle has signalled a further increase, but we still need confirmation, so maybe you should wait for a valid breakout above the $1,817 psychological level before going long with a target at the upper 1830$ and 1846$

SUPPORT/RESISTANCE
✅S1= 1785$
✅S2=1750$
✴️R1=1815$
✴️R2=1825$

Author

M.Ali Zah

All My Pips

M.Ali has 10 years of experience in analysing and covering the global markets, with specialization in Forex and commodities markets.

EUR/USD trims losses, back to 1.1830

EUR/USD manages to regain some composure, leaving behind part of the earlier losses and reclaim the 1.1830 region on Tuesday. In the meantime, the US Dollar’s upside impulse loses some momentum while investors remain cautious ahead of upcoming US data releases, including the FOMC Minutes.

GBP/USD bounces off lows, retargets 1.3550

After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.

Gold loses further momentum, approaches $4,800

Gold recedes to fresh two-week troughs around the $4,800 region per troy ounce on Tuesday. The precious metal builds on Monday’s downtick following a marked rebound in the US Dollar and mixed US Treasury yields across the board.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.