Gold Prices News & Prediction: XAU/USD 100-day SMA, 11-week-old trendline, cap immediate recovery

Yohay Elam FXStreet

Gold Technical Analysis: 100-day SMA, 11-week-old trendline, cap immediate recovery

Prices are likely to revisit the 38.2% Fibonacci retracement of April-September upside movement, at $1,445. However, a downward sloping trend-line since August 13, at $1,429, followed by a 50% Fibonacci retracement level of $1,410 limits the bullion’s further declines. Read more…

Gold consolidates the New York rally in $1,470s, bulls look to a 61.8% Fibo target

Spot gold is currently trading between a range of $1471.56 and $1475.43, buoyed by a slightly risk-off session overnight following Sino/US trade deal headlines and pessimism as well as a weakening in the greenback and US yields. Read more...

XAU/USD

Overview
Today last price	1472.43
Today Daily Change	0.81
Today Daily Change %	0.06
Today daily open	1471.62

Trends
Daily SMA20	1484.46
Daily SMA50	1492.19
Daily SMA100	1480.17
Daily SMA200	1395.03

Levels
Previous Daily High	1473.95
Previous Daily Low	1456.54
Previous Weekly High	1474.6
Previous Weekly Low	1445.8
Previous Monthly High	1519.04
Previous Monthly Low	1455.5
Daily Fibonacci 38.2%	1467.3
Daily Fibonacci 61.8%	1463.19
Daily Pivot Point S1	1460.79
Daily Pivot Point S2	1449.96
Daily Pivot Point S3	1443.38
Daily Pivot Point R1	1478.19
Daily Pivot Point R2	1484.78
Daily Pivot Point R3	1495.6

Gold: Supported by the risk tone

The mind boggles, but I would say $1,557 (high for this year) will be challenged. Let’s not make assumptions or get too far down the road before we check the rearview mirror because the Brexit & HK issues are still clouding things at the same time as we seem so far yet so near a trade deal (finally) being inked between the US & China. Read more...

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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