Gold Technical Analysis: Struggles to build on positive momentum, upbeat NFP report capped gains

Haresh Menghani FXStreet

• The precious metal managed to rebound from 50% Fibonacci retracement level of the $1180-$1243 recent upsurge on Wednesday, though struggled to build on the overnight upsurge following the release of upbeat NFP report.

• However, technical indicators on hourly/daily charts have been holding in bullish territory and support prospects for an extension of the positive momentum/additional intraday gains.

• Moreover, given that the commodity remains well above important intraday moving averages - 50, 100 & 200-hour SMAs, adds credence to the near-term constructive outlook.

Gold 4-hourly chart

XAU/USD

Overview:
    Last Price: 1233.45
    Daily change: 25 pips
    Daily change: 0.0203%
    Daily Open: 1233.2
Trends:
    Daily SMA20: 1226.46
    Daily SMA50: 1209.96
    Daily SMA100: 1207.03
    Daily SMA200: 1247.31
Levels:
    Daily High: 1237.6
    Daily Low: 1214.4
    Weekly High: 1243.43
    Weekly Low: 1219.9
    Monthly High: 1243.43
    Monthly Low: 1182.54
    Daily Fibonacci 38.2%: 1228.74
    Daily Fibonacci 61.8%: 1223.26
    Daily Pivot Point S1: 1219.2
    Daily Pivot Point S2: 1205.2
    Daily Pivot Point S3: 1196
    Daily Pivot Point R1: 1242.4
    Daily Pivot Point R2: 1251.6
    Daily Pivot Point R3: 1265.6

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.