Gold going up to resistance 1549 while trading above 1540

Anton Kolhanov Anton Kolhanov

Gold, Tuesday forecast, January 14

Uptrend

The uptrend may be expected to continue, while pair is trading above support level 1540, which will be followed by reaching resistance level 1549.

Downtrend

An downtrend will start as soon, as the pair drops below support level 1534, which will be followed by moving down to support level 1524.

Weekly forecast, January 13 - 17

Most important news of this week

Monday: -
Tuesday: US Core CPI (YoY) (Dec)
Wednesday: US-China trade war phase 1 deal, Crude Oil Inventories
Thursday: EU ECB Publishes Account of Monetary Policy Meeting, US Core Retail Sales (MoM) (Dec)
Friday: EU Core CPI (YoY) (Dec)

Forecast and technical analysis

Uptrend

The uptrend may be expected to continue, while pair is trading above support level 1540, which will be followed by reaching resistance level 1575 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1611.

Downtrend

An downtrend will start as from resistance 1575, as the pair drops below support level 1540, which will be followed by moving down to support level 1513.

Monthly forecast, January - February

Uptrend

The uptrend may be expected to continue, while pair is trading above support level 1557, which will be followed by reaching resistance level 1616.

Downtrend

An downtrend will start as soon, as the pair drops below support level 1557, which will be followed by moving down to support level 1513.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

EUR/USD off highs, back to 1.1850

EUR/USD loses some upside momentum, returning to the 1.1850 region amid humble losses. The pair’s slight decline comes against the backdrop of a marginal advance in the US Dollar as investors continue to assess the latest US CPI readings.

GBP/USD advances to daily tops around 1.3650

GBP/USD now manages to pick up extra pace, clinching daily highs around 1.3650 and leaving behind three consecutive daily pullbacks on Friday. Cable’s improved sentiment comes on the back of the inconclusive price action of the Greenback, while recent hawkish comments from the BoE’s Pill also collaborates with the uptick.

Gold surpasses $5,000/oz, daily highs

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The yellow metal’s upside is also propped up by the lack of clear direction around the US Dollar post-US CPI release.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.