Gold Price News and Forecast: XAU/USD tests monthly R1 [Video]


Gold: Can the bulls build support above 1744? [Video]

If last week was all about the breakout, it would appear that this week is all about consolidating the move. Since the original March rally tailed off in mid-April, it has effectively taken more than two months for the bulls to make their next move. However, with several false upside dawns in that time, perhaps it is understandable that the market is taking this breakout with caution.  We are also cautious with our positive outlook on gold. Holding above $1744 will now be a key gauge as to the outlook of the market. This breakout above $1764 (the old May high) has been consolidated in recent sessions, but the signs are encouraging for the bulls. Read More...

 

XAU/USD analysis: Tests monthly R1

Yesterday, the XAU/USD exchange rate tried to exceed the monthly R1 at 1,773.62. During Tuesday morning, the continued to test the given resistance.

It is likely that some upside potential could prevail in the market, as yellow metal could gain support from the 55– and 100-hour SMAs near 1,768.00. In this case the rate could exceed the 1,780.00 mark. Read More...

XAUUSD

 

Gold consolidates in a range, around $1770 region

Gold extended its sideways consolidative price moves and remained confined in a narrow trading band, just below the $1775 level.

A combination of diverging forces failed to provide any meaningful impetus to the commodity and led to a subdued/range-bound trading action for the second consecutive session on Tuesday. Concerns about rising coronavirus cases globally and fading hopes of a sharp V-shaped global economic recovery continued benefitting the precious metal's safe-haven status. Read More...

XAU/USD

Overview
Today last price 1770.46
Today Daily Change -2.10
Today Daily Change % -0.12
Today daily open 1772.56
 
Trends
Daily SMA20 1733.7
Daily SMA50 1723.64
Daily SMA100 1670
Daily SMA200 1588.06
 
Levels
Previous Daily High 1776.13
Previous Daily Low 1765.8
Previous Weekly High 1779.41
Previous Weekly Low 1742.97
Previous Monthly High 1765.38
Previous Monthly Low 1670.72
Daily Fibonacci 38.2% 1772.18
Daily Fibonacci 61.8% 1769.75
Daily Pivot Point S1 1766.86
Daily Pivot Point S2 1761.17
Daily Pivot Point S3 1756.53
Daily Pivot Point R1 1777.19
Daily Pivot Point R2 1781.83
Daily Pivot Point R3 1787.52

 

 

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