Gold Technical Analysis: Yellow Metal capped below the 1,297.00 mark

Flavio Tosti Independent Analyst

Gold daily chart

Gold is trading in a bull trend above its main simple moving averages (SMAs).
The last bearish target at the 1,287.00 level has been hit to the pip.

Gold 4-hour chart

Gold is trading above its main SMAs suggesting bullish momentum in the near-term.

Gold 30-minute chart

The market is set to decline to the 1,288.75 target.
Resistance is seen at the 1297.00 level.

Additional key levels

XAU/USD

Overview:
    Today Last Price: 1293.91
    Today Daily change: 4.9e+2 pips
    Today Daily change %: 0.376%
    Today Daily Open: 1289.06
Trends:
    Previous Daily SMA20: 1278.53
    Previous Daily SMA50: 1247.69
    Previous Daily SMA100: 1230.43
    Previous Daily SMA200: 1228.94
Levels:
    Previous Daily High: 1294.75
    Previous Daily Low: 1286.95
    Previous Weekly High: 1297.15
    Previous Weekly Low: 1279.35
    Previous Monthly High: 1284.7
    Previous Monthly Low: 1221.39
    Previous Daily Fibonacci 38.2%: 1289.93
    Previous Daily Fibonacci 61.8%: 1291.77
    Previous Daily Pivot Point S1: 1285.76
    Previous Daily Pivot Point S2: 1282.45
    Previous Daily Pivot Point S3: 1277.96
    Previous Daily Pivot Point R1: 1293.56
    Previous Daily Pivot Point R2: 1298.05
    Previous Daily Pivot Point R3: 1301.36

Author

Flavio Tosti

Independent Analyst

EUR/USD holds steady above 1.1850 as markets eye Eurozone GDP, US CPI inflation releases

The EUR/USD pair trades on a flat note near 1.1870 during the early Asian session on Friday. The major pair steadies amid mixed signals from the latest release of US economic indicators. Traders await the preliminary reading of the Eurozone Gross Domestic Product for the fourth quarter and US inflation data, which are published later on Friday.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold: Will US CPI data trigger a range breakout?

Gold retakes $5,000 early Friday amid a turnaround from weekly lows as US CPI data loom. The US Dollar consolidates weekly losses as AI concerns-driven risk-off mood stalls downside. Technically, Gold appears primed for a big range breakout, with risks skewed toward a bullish break.