Gold Price Forecast: Bulls recovered the 20 and 200-day SMA jumping to $1,923

XAU/USD tallied 0.60% daily gains and jumped to a daily high of $1,930, then settled at $1,923.
Bulls quickly recovered the 20 and 200-day SMAs at the $1,920 area after losing them at the beginning of the week.
Indicators point to a bullish resurgence.

Patricio Martín FXStreet

At the end of the week, the Gold Spot price will close a weekly gain, recovering losses, which took the price to a weekly low of $1,900 and closing above $1,920.

Based on the daily chart, the XAU/USD exhibits a bullish outlook for the short term. Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show signs of the buyers recovering and stan in positive territory, with the RSI jumping back above its midline and showing a northward slope. The MACD is also displaying green bars, indicating a strengthening bullish momentum. Additionally, on the four-hour chart, the price jumped above the 20,100 and 200 Simple Moving Averages (SMA) and their indicators also gained significant momentum.

However, on the larger time frame, the spot is well below the 100-day SMA, which suggests that the buyers still have some work to do to confirm a recovery.

Support levels: $1,923 - $1,920 (200 and 20-day SMA), $1,910, $1,900.

Resistance levels: $1,930,$1,940, $1,950 (100-day SMA).

XAU/USD Daily Chart

XAU/USD

Overview
Today last price	1923.6
Today Daily Change	12.81
Today Daily Change %	0.67
Today daily open	1910.79

Trends
Daily SMA20	1919.22
Daily SMA50	1931.85
Daily SMA100	1947.57
Daily SMA200	1921.54

Levels
Previous Daily High	1912.95
Previous Daily Low	1901.07
Previous Weekly High	1946.35
Previous Weekly Low	1915.33
Previous Monthly High	1966.08
Previous Monthly Low	1884.85
Daily Fibonacci 38.2%	1908.41
Daily Fibonacci 61.8%	1905.61
Daily Pivot Point S1	1903.59
Daily Pivot Point S2	1896.39
Daily Pivot Point S3	1891.71
Daily Pivot Point R1	1915.47
Daily Pivot Point R2	1920.15
Daily Pivot Point R3	1927.35

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.