Gold Price News and Forecast: XAU/USD consolidates the biggest losses in two weeks

FXStreet Team FXStreet

Gold Price Analysis: Bears back in the drivers seat, 1:3 R/R setup in place

Gold prices are weaker as the week goes by and have fallen into the bear's liar. The price of gold has moved into bearish territory offering a trade setup scenario. A 1:3 R/R 4-hour swing trade is on the cards, but the price first needs to correct.

Gold Price Analysis: XAU/USD consolidates the biggest losses in two weeks under $1,900

Gold prices stay pressured around $1,877 during the initial Asian trading on Wednesday. The yellow metal dropped the heaviest since late-September as the market’s risk aversion renewed the US dollar strength the previous day.

US President Donald Trump lashed out at the opposition Democratic Party while closing door on the face of the efforts to unveil details of the much-awaited American aid package. Following the Republican leader’s announcement, the House Senior McConnell also joined the league to denounce the Democrats’ push for more.

XAU/USD

Overview
Today last price	1882.26
Today Daily Change	4.48
Today Daily Change %	0.24
Today daily open	1877.78

Trends
Daily SMA20	1913.09
Daily SMA50	1943.35
Daily SMA100	1857.33
Daily SMA200	1738.64

Levels
Previous Daily High	1921.16
Previous Daily Low	1874.88
Previous Weekly High	1917.16
Previous Weekly Low	1848.82
Previous Monthly High	1992.42
Previous Monthly Low	1848.82
Daily Fibonacci 38.2%	1892.56
Daily Fibonacci 61.8%	1903.48
Daily Pivot Point S1	1861.39
Daily Pivot Point S2	1844.99
Daily Pivot Point S3	1815.11
Daily Pivot Point R1	1907.67
Daily Pivot Point R2	1937.55
Daily Pivot Point R3	1953.95

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD flirts with tops near 1.3470

GBP/USD manages to regain composure and challenge the area of daily highs around 1.3470 on Friday. Cable picks up pace despite marginal gains in the Greenback in a context of swelling geopolitical tensions and rising global oil prices.

EUR/USD trims losses, back above 1.1500

EUR/USD picks up some pace and bouces off earlier lows, reclaiming the 1.1500 threshold and beyond at the end of the week. The pair’s modest pullback follows a persistent risk-averse market mood and renewed buying interest for the US Dollar.

Gold: The $4,000 mark holds the downside for now

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Bitcoin eyes 50-day EMA breakout, Ethereum consolidates, XRP steadies

Bitcoin, Ethereum, and Ripple trade near key technical levels on Friday as the broader cryptocurrency market pauses following last week's recovery. BTC is approaching the 50-day Exponential Moving Average while ETH continues to consolidate between two major EMAs.

Warsh needs to restore his reputation

We were glad to see our deeply negative reaction to the Warsh press conference was not some personal peculiarity. Just about everybody in the financial press felt the same way. The consensus is building it’s not the Fed in the dog-house but only Warsh. Today the WSJ changed it tune and blasted Warsh—"the honeymoon is already over..”

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.