Gold Price Forecast: XAU/USD eyes 200-DMA amid acceptance above 21-DMA

  • Gold price books third straight weekly gain, 200-DMA remains in sight.
  • Daily closing above 21-DMA reignites bullish interest, as RSI recovers to 50.00.
  • Gold Price Weekly Forecast: XAU/USD bulls bet on Golden Cross pattern, uptrend support, lower yields.

Thursday’s Doji candlestick doesn’t seem to have discouraged the bulls, as gold price staged an impressive bounce on Friday, although remained within the recent trading range.

Gold price rallied as high as $1812 before reversing into the weekly closing, settling the week at $1808.

Gold bulls managed to defend the critical short-term 21-Daily Moving Average (DMA) at $1796 and a daily closing yielded above the same, opens doors for the further upside next week.

The 14-day Relative Strength Index (RSI) has also steadily advanced to the central line, suggesting that the tide may have turned in favor of the bulls.

Therefore, gold buyers keep their sight on the horizontal 200-DMA, aligned at $1828.

Ahead of that, the past week’s high at $1818 could probe the bullish commitments.

Gold Price Chart: Daily

On the flip side, 21-DMA could limit any retracements from higher levels, below which the horizontal 100-DMA support at $1790 is likely to be tested.

A sustained break below the latter could revive the downtrend towards the two-month troughs of $1751.

Gold: Additional levels to watch


Today last price 1808.43
Today Daily Change 0.00
Today Daily Change % 0.00
Today daily open 1808.43
Daily SMA20 1792.31
Daily SMA50 1835.72
Daily SMA100 1790.5
Daily SMA200 1827.87
Previous Daily High 1812.45
Previous Daily Low 1796.71
Previous Weekly High 1818.41
Previous Weekly Low 1784.58
Previous Monthly High 1916.62
Previous Monthly Low 1750.77
Daily Fibonacci 38.2% 1806.44
Daily Fibonacci 61.8% 1802.72
Daily Pivot Point S1 1799.28
Daily Pivot Point S2 1790.12
Daily Pivot Point S3 1783.54
Daily Pivot Point R1 1815.02
Daily Pivot Point R2 1821.6
Daily Pivot Point R3 1830.76



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD: Bulls step in at month-end, eyeing the upside

EUR/USD is set to close off a bearish week towards a test of 1.11 the figure after breaking out of the bearish weekly wedge to the downside. Bulls have an eye on the weekly M-formation and prospects of a significant correction. 


GBP/USD slumps toward 1.3350, renews five-week lows

GBP/USD stays under constant bearish pressure on Thursday and trades at its lowest level since late December below 1.3370. Following the upbeat growth data from the US, the US Dollar Index is rising more than 0.7% on the day above 97.00. 


Gold licks wounds at three-week low near $1,800 amid firmer USD

Gold bears take a breather around $1,797 as Friday’s Asian session begins, following a $50 slump in the last two consecutive days to a three-week low. The yellow metal awaits fresh clues after piercing the $1,800 threshold the previous day.

Gold News

Bitcoin struggles against resistance as bulls keep their eye on $40,000

Bitcoin price action faced intense selling pressure after the Fed’s decision, with Bitcoin losing more than 5% from its Wednesday high. If the sell-off from the top wasn’t discouraging enough for bulls, then the daily close in the red certainly added insult to injury.

Read more

Apple (AAPL) Earnings for Q1 beats estimates on EPS and revenue

Apple (AAPL) reported earnings after the close on Thursday. Earnings per share (EPS) came in at $2.10 versus the estimate of $1.89. Revenue was $123.9 billion versus the estimate for $118.66 billion. AAPL is trading at $162.40 in Thursday's aftermarket, a change of 2% versus the regular session close of $159.16.

Read more