Gold New York Price Forecast: XAU/USD confined in small ranges near weekly highs


  • XAU/USD rose this week as the Fed announced no limit to its bond-buying program on Monday.
  • The level to beat for bulls is the 1636 level. 
 

XAU/USD daily chart

 
XAU/USD is consolidating the recent surge to the upside as the price of the bullion is confined in the 1600/1640 price range for the time being. 
 

XAU/USD four-hour chart

 
The metal is retreating from the weekly highs still trading above the main SMAs on the four-hour chart and the 1614 support level. Bulls remain in control as they are looking for a break of the 1636 resistance en route to the 1660 level and 1700 figure if XAU/USD gathers enough steam. Support is seen near 1614, 1600 and 1560 levels. 
 
 

Resistance: 1636, 1660, 1700

Support: 1614, 1600, 1560

 

Additional key levels

XAU/USD

Overview
Today last price 1618.08
Today Daily Change -12.06
Today Daily Change % -0.74
Today daily open 1630.14
 
Trends
Daily SMA20 1589.32
Daily SMA50 1587.31
Daily SMA100 1540.06
Daily SMA200 1508.16
 
Levels
Previous Daily High 1644.54
Previous Daily Low 1598.08
Previous Weekly High 1561
Previous Weekly Low 1451.3
Previous Monthly High 1689.4
Previous Monthly Low 1547.56
Daily Fibonacci 38.2% 1626.79
Daily Fibonacci 61.8% 1615.83
Daily Pivot Point S1 1603.97
Daily Pivot Point S2 1577.79
Daily Pivot Point S3 1557.51
Daily Pivot Point R1 1650.43
Daily Pivot Point R2 1670.71
Daily Pivot Point R3 1696.89

 

 

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