XAU/USD

Yesterday, the XAU/USD exchange rate skyrocketed to the psychological level at 1,380.00. During today's morning, the rate was trying to surpass the 1,385.00 level.  

From the one hand, gold could continue to appreciate against the US Dollar, as it is supported by the 55-, 100– and 200-hour moving averages, currently located in the 1,340.34/1,352.50 range. The price for gold could target the upper boundary of the long-term ascending channel located circa 1,404.00. 

From the other hand, the exchange rate could reverse south, as technical indicators show that gold is in the overbought zone. It is unlikely, that the price for gold could drop lower than 1,360.33/1,366.90 due to the support of the monthly R3 and the Fibo 0.00%.

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 consolidating its losses amid Brexit and trade uncertainty

EUR/USD is off the weekly highs but holds onto 1.11 amid uncertainty about the Brexit process and doubts that the US and China can reach a deal. Tension toward the ECB meeting mounts.

EUR/USD News

GBP/USD attempting to recover after parliament slowed down the Brexit process

GBP/USD is moving up toward 1.29, trying to recover after parliament rejected the fast-track process that PM Johnson wanted for approving his Brexit deal. An extension to Article 50 and elections are on the cards.

GBP/USD News

USD/JPY struggles below mid-108.00s, over one-week lows

The Greenback held weaker against its Japanese counterpart, with the USD/JPY pair struggling below mid-108.00s, or over one-week lows set earlier this Wednesday.

USD/JPY News

Cryptocurrencies price prediction: Bitcoin Cash, Ethereum & IOTA

The crypto market is bleeding across the board. Major cryptos like Bitcoin and Ethereum fall overnight while Bitcoin Cash engaged the reverse gear during Wednesday’s European session.

Read more

Gold: Clings to gain near the top end of 2-week old trading range

Gold gained some follow-through traction for the second consecutive session on Wednesday and is currently placed at the top end of a near two-week-old trading range.

Gold News

Forex Majors

Cryptocurrencies

Signatures