Gold Technical Analysis: Metal remains under precious below $1465/oz

The yellow metal remains under selling pressure on the last day of the month.
The 1445 level remains on the sellers’ radar.

Flavio Tosti Independent Analyst

Gold daily chart

On the daily chart, gold remains under selling pressure near the November lows while trading below the 1465 resistance level and the 50/100 SMAs. However, the bears need a break below the 1445 swing low. If so, the market could depreciate further towards the 1400 figure near the 200-day SMA.

Gold four-hour chart

The market is slowly drifting down while trading below the main SMAs. As XAU/USD remains soft, the 1445 level remains on the sellers’ radar in the medium term. Immediate resistance can be seen near the 1465 and 1480 levels.

Additional key levels

XAU/USD

Overview
Today last price	1454.68
Today Daily Change	-1.32
Today Daily Change %	-0.09
Today daily open	1456

Trends
Daily SMA20	1470.71
Daily SMA50	1486.95
Daily SMA100	1484.48
Daily SMA200	1400.65

Levels
Previous Daily High	1458.24
Previous Daily Low	1454
Previous Weekly High	1478.86
Previous Weekly Low	1456.54
Previous Monthly High	1519.04
Previous Monthly Low	1455.5
Daily Fibonacci 38.2%	1456.62
Daily Fibonacci 61.8%	1455.62
Daily Pivot Point S1	1453.92
Daily Pivot Point S2	1451.84
Daily Pivot Point S3	1449.69
Daily Pivot Point R1	1458.16
Daily Pivot Point R2	1460.31
Daily Pivot Point R3	1462.39

Author

Flavio Tosti

Independent Analyst

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.