Gold will continue uptrend above 1475 with target on 1487

Anton Kolhanov Anton Kolhanov

Gold, Tuesday forecast, November 19

Today no any strong news and market going to be trading technically.

Forecast and technical analysis
Uptrend
The uptrend may be expected to continue in case the market rises above resistance level 1475.3, which will be followed by reaching resistance level 1487.
Downtrend
An downtrend will start as soon, as the pair drops below support level 1469, which will be followed by moving down to support level 1458.

Weekly forecast, November 18 - 22

This week before Wednesday we do not have important news, so this can be the reason for market’s correction, where key support gold have on 1457 and resistance 1473.

Most important news of this week
Wednesday: FOMC Meeting Minutes
Friday: EU and US PMI’s

Forecast and technical analysis
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 1457, which will be followed by reaching resistance level 1473 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1487.
Downtrend
Downtrend is not expecting on this week, below 1457 we can reach next support on 1446 after that market will be trading sideways between levels 1446 - 1457.

Monthly forecast, November - December

Downtrend
The downtrend may be expected to continue, while pair is trading below resistance level 1517.8, which will be followed by reaching support level 1487 and if it keeps on moving down below that level, we may expect the pair to reach support level 1459.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 1517.8, which will be followed by moving up to resistance level 1534 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1556.8.

Author

Anton Kolhanov

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

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.