Gold Price News and Forecast: XAU/USD bulls target $1,820


Gold Price Analysis: Bulls setting up for upside extension to -61.8% Fibo/$1,817/20

Gold is consolidating the recent bullish impulse, but the 15-min reverse H&S is an extra conviction for prospects of a continuation. $1,817 and $1,820 are on the bulls map. As per the prior analysis from the New York session, Gold Price Analysis: Bulls target $1,820, 1-hour Momentum points to meanwhile correction, the yellow metal did indeed decelerate to a measured target of the 38.2% Fibonacci retracement level. 

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Gold Price Analysis: Bulls target $1,820, 1-hour Momentum points to meanwhile correction

Gold prices have been back on the bid through the psychological 1800 level. $1,820 is a marked target to the upside, but the hourly chart is on the verge of a healthy correction. As per the prior analysis, Gold Price Analysis: Target achieved and fresh bear-cycle lows for 2021, where the price met weekly demand, it was argued that the price would resume the upside as follows.

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