Gold is accumulating around the zone $1760/oz to $1790/oz. The reason is that because the financial eyes on Wall Street have focused on crypto assets, Bitcoin. The US Securities and Exchange Commission (SEC) and the US Treasury Department give the green light to the Bitcoin Exchange (which means Long/Short) and push the money poured into the ETF fund to trade Bitcoin. Although BTC is still not considered as a currency. Moreover, the largest gold ETF fund, SPDR Gold, has been withdrawn over 2.2 billion dollars since August. By estimate, more than 5.5 billion dollars have been withdrawn over the world from the 3rd quarter by other funds.
The DXY - US Dollar Index fell down 0.8 point (1.02%) because the FED has not released any significant signal that the QE will slow down any sooner and the interest rate will climb up.

This week, there will be 2 speeches from other Chairman of the FED that affect the US economy.

MA analysis


On the daily chart, both the MA20/MA50 had a reversal signal, coming closer to the MA200. The bullish trend is rising on this chart.

XAU/USD: The daily chart
On the 4-hour chart, both the MA20/MA50 crossed the MA200 and climbed up significantly. It shows that the bulls started to make a huge impact on the gold from now.

XAU/USD: The 4-hour chart
On the 1-hour chart, the MA20 climbed up and got over the MA50/MA200. The MA50 also got a huge wave and crossed over the MA200. In conclusion, the bulls is dominating this chart.

XAU/USD: the 1-hour chart

Fibonacci analysis

The Fibonacci indicator is measured on the daily chart at 2 levels:

The $1920/oz: This is a double top pattern, which is made in the last 6 months.

The $1680/oz: The strongest support in the past 2 years.

Gold has drawn a bullish trend and sideways between the Fibonacci 38.2 and Fibonacci 50. If gold breaks the Fibonacci 50, it will head to the Fibonacci 61.8.

XAU/USD: The Fibonacci analysis chart

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at are those of the individual authors and do not necessarily represent the opinion of or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD accelerates slump, approaches 0.1300

The shared currency is among the weakest dollar’s rivals. EUR/USD trades around 1.1320 and is near its weekly low. Elsewhere, the greenback weakened after soft US employment-related figures and as stocks rallied.


GBP/USD holds above 1.3600 as dollar fails to capitalize on US data

GBP/USD tested 1.3600 earlier in the day but managed to stage a recovery in the early American session. The greenback is having a hard time gathering strength as investors assess the mixed macroeconomic data releases from the US.


Gold bulls looking for a re-test of November high at 1,877.15

Gold resumed its advance after a short-lived consolidative stage, reaching a fresh two-month high of $1,847.92 a troy ounce. The dollar came under renewed selling pressure after the US released mixed economic figures.

Gold News

Decentraland holds support but MANA may return to $2

Decentraland price action is, at present, very indecisive. However, while the overall outlook is bearish – especially within the Ichimoku Kinko Hyo system, there is evidence that a turnaround to the upside may be coming soon.

Read more

When real rates are negative for a sustained period, is it a sign of looming recession?

We agree that inflation should moderate this year due to the money side of things, but worry that monetary policy is powerless against most of the supply chain issues, commodity prices, greedy consumer goods companies, and that weird labor shortage.

Read more