GOLD

Spot gold holds in red for the fourth straight day and accelerates lower in early US trading on Tuesday. Fresh weakness hit new 4 1/2 month low, marking daily loss of 0.93% until now. Solid economic data from major economies and fresh optimism over US/China trade talks boosted risk sentiment, reducing significantly safe-haven demand. Fresh bears cracked important supports at $1276/75 (21/23 Jan higher base/Fibo 38.2% of $1160/$1346) and close below would generate bearish signal for extension steep fall from $1309 lower top towards $1263 (weekly cloud top). Daily techs are in full bearish setup and maintain strong negative momentum which boosts bears. Oversold stochastic marks initial warning of corrective action that could be expected in coming session.

Res: 1276; 1280; 1287; 1292
Sup: 1274; 1263; 1256; 1253

XAUUSD

 

Interested in XAUUSD technicals? Check out the key levels

    1. R3 1316.47
    2. R2 1304.26
    3. R1 1295.52
  1. PP 1283.31
    1. S1 1274.57
    2. S2 1262.36
    3. S3 1253.62

 

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex Analysis

Editors’ Picks

EUR/USD: Off multi-month highs, holds above 1.1200 ahead of ECB

Amid a broad-based US dollar rebound, EUR/USD corrects further from three-month highs of 1.1257 ahead of the European open, as the bulls take a breather ahead of the key European Central Bank (ECB) monetary policy decision.

EUR/USD News

GBP/USD retreats from five-week top to sub-1.2600 area amid quiet session

GBP/USD snaps five-day winning streak to take U-turn from 100-day SMA, still above 1.2500. BOE’s Bailey tells banks to prepare for no-deal exit and downs the GBP. The US Dollar bounces off three-month low amid risk reset, pre-ECB moves.

GBP/USD News

Riots could assist US recovery by ending the economic paralysis

The US economy may be headed for a V-shaped recovery aided ironically enough by the demonstrations that have made nonsense of the continued social and business restrictions and the riots whose damage will require massive spending to repair.

Read more

Gold: Bounces back above $1,700 to keep buyers hopeful

Gold prices recover from immediate support line, 50-day SMA. The yellow metal’s failure to close below 50-day SMA, not to forget a six-week-old ascending support line keeps the buyers hopeful. Risk reset, cautious mood ahead of the ECB also favors the buyers.

Gold News

WTI retraces within an immediate triangle around $37.00

WTI seesaws near three-month high inside a two-day-old symmetrical triangle. The black gold rose to the highest since March 11 the previous day but MACD’s weakness dragged it back from $38.30.

Oil News

Forex Majors

Cryptocurrencies

Signatures