XAU/USD

On Wednesday, the XAU/USD exchange rate traded sideways around the 1,555.00 level. During today's morning, the rate maintained its consolidation.

Note that yellow metal is squeezed by the 55-, 100– and 200-hour SMAs, located at 1,551.00 and 1,558.56 respectively. Thus, gold could continue to trade sideways against the US Dollar in the short run.

It is unlikely that bulls could prevail in the market, and the price for gold could exceed the monthly R2 at 1,570.61. Also, it is unlikely that the exchange rate could decline below the monthly R1 at 1,544.31.

XAUUSD

fxsoriginal

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD hits two-month lows amid USD strength

EUR/USD has pared its gains that followed upbeat preliminary PMIs for Germany came out above expectations, pointing to a recovery. The USD is advancing amid fears of the coronavirus.

EUR/USD News

GBP/USD drops below 1.31 amid USD strength, fails to sustain PMI gains

GBP/USD is trading below  1.31 after hitting a fresh high of 1.3172. The UK Manufacturing PMI beat with 49.8 and Services PMI with 52.9. The USD is gaining ground across the board.

GBP/USD News

Cryptos: Bears take over and draw a bloody moon

Despite appearances, Bitcoin is the asset with the best risk/benefit ratio. The current falls are adjusted to the ranges of the previous rise. Downward momentum expires in the first half of February.

Read more

Gold rebounds above $1560 ahead of US PMI data

The XAU/USD pair dropped to a daily low of $1556.70 during the European trading hours as the easing worries over coronavirus becoming a global epidemic and a broad-based USD strength put the pair under bearish pressure.

Gold News

USD/JPY stuck in range around 109.50 amid China coronavirus concerns

USD/JPY sticks to its range play around the midpoint of the 109 handle amid rising fears of the Chinese coronavirus outbreak globally, upbeat Japanese CPI data and a minor bounce seen in the US dollar across the board. Focus shifts to US PMIs. 

USD/JPY News

Forex Majors

Cryptocurrencies

Signatures