Categories
Commodities

Gold Price Analysis: XAU/USD remains trapped between key DMAs ahead of Fed week

Gold (XAU/USD) resumed its bearish momentum following a quick recovery from multi-month lows sub 1dolar1 1800 within the last week.

The sellers returned following the metallic faced rejection at the 50 daily shifting average (DMA), now at $1875.

On Wednesday, gold fell pretty much as one % to close to the $1825 region and paid the rest of the week meandering close to the latter, using the upside tries capped by the 21-DMA of $1841.

Gold Price Chart: Daily

XAU/USD’s day chart clearly shows that the cost proceeds to oscillate in a defined range. Acceptance above the 50-DMA is actually critical to reviving the recovery momentum from four month troughs of $1765.

Meanwhile, the 200 DMA assistance during $1809 is the level to beat for the bears. The 14 day Relative Strength Index (RSI) settled the week during 47.01, keeping the odds for additional downside alive.

Further, a failure to give a weekly closing on top of the crucial short-term hurdle of 21 DMA, also suggests that more declines may just be in the offing.

Nevertheless, the Fed’s final monetary policy choice of this season and a likely US fiscal stimulus deal could have a significant impact on the gold price action in the week ahead.

Gold Additional levels
XAU/USD
OVERVIEW
Today last price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Now every day open 1839.34

TRENDS
Everyday SMA20 1838.62
Everyday SMA50 1874.97
Daily SMA100 1910.26
Daily SMA200 1809.34

LEVELS
Previous Daily High 1847.78
Previous Daily Low 1824.16
Previous Weekly High 1875.34
Earlier Weekly Low 1822.22
Earlier Monthly High 1965.58
Previous Monthly Low 1764.6
Day Fibonacci 38.2% 1838.76
Day Fibonacci 61.8% 1833.18
Daily Pivot Point S1 1826.41
Daily Pivot Point S2 1813.47
Daily Pivot Point S3 1802.79
Everyday Pivot Point R1 1850.03
Everyday Pivot Point R2 1860.71
Everyday Pivot Point R3 1873.65

Categories
Commodities

Gold Price Analysis: XAU/USD remains caught between main DMAs ahead of Fed week

Gold (XAU/USD) resumed its bearish momentum following a brief recovery from multi month lows sub 1dolar1 1800 in the last week.

The sellers returned after the metallic faced rejection at the 50 daily carrying average (DMA), now at $1875.

On Wednesday, gold fell almost as one % to close to the $1825 region and invested the rest of the week meandering near the latter, using the upside tries capped by the 21-DMA of $1841.

Gold Price Chart: Daily

XAU/USD’s daily chart clearly shows that the price goes on to oscillate in a defined range. Acceptance above the 50-DMA is actually critical to reviving the retrieval momentum from four month troughs of $1765.

Meanwhile, the 200 DMA support during $1809 is the level to get over for the bears. The 14-day Relative Strength Index (RSI) settled the week during 47.01, keeping the odds for additional downside alive.

In addition, a failure to give a weekly closing over the critical short term hurdle of 21-DMA, also suggests that more declines might stay in the offing.

Nevertheless, the Fed’s final monetary policy decision of this season as well as a probable US fiscal stimulus deal could have a significant impact on the gold price activity within the week ahead.

Gold Additional levels
XAU/USD
OVERVIEW
These days last price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Today every day open 1839.34

TRENDS
Daily SMA20 1838.62
Everyday SMA50 1874.97
Day SMA100 1910.26
Day SMA200 1809.34

LEVELS
Earlier Daily High 1847.78
Earlier Daily Low 1824.16
Earlier Weekly High 1875.34
Previous Weekly Low 1822.22
Earlier Monthly High 1965.58
Previous Monthly Low 1764.6
Everyday Fibonacci 38.2% 1838.76
Day Fibonacci 61.8% 1833.18
Daily Pivot Point S1 1826.41
Daily Pivot Point S2 1813.47
Everyday Pivot Point S3 1802.79
Daily Pivot Point R1 1850.03
Day Pivot Point R2 1860.71
Daily Pivot Point R3 1873.65

Categories
Commodities

Gold Price Analysis: XAU/USD remains caught between main DMAs in front of Fed week

Gold (XAU/USD) resumed the bearish momentum of its following a short recovery from multi month lows sub 1dolar1 1800 during the last week.

The sellers returned after the metal faced rejection at the 50 daily shifting the everyday (DMA), today at $1875.

On Wednesday, gold fell pretty much as one % to close to the $1825 region and paid the remainder of the week meandering close to the latter, using the upside tries capped by the 21 DMA of $1841.

Gold Price Chart: Daily

XAU/USD’s day chart definitely shows that the price continues to oscillate in a defined range. Acceptance above the 50 DMA is actually important to reviving the recovery momentum from four month troughs of $1765.

Meanwhile, the 200-DMA support at $1809 is the level to get over for the bears. The 14-day Relative Strength Index (RSI) settled the week during 47.01, keeping the odds for extra downside alive.

Further, a failure to provide a weekly closing over the essential short-term hurdle of 21 DMA, also suggests that more declines could remain in the offing.

However, the Fed’s finalized monetary policy decision of this season as well as a probable US fiscal stimulus deal could have a major impact on the gold price activity within the week ahead.

Gold Additional levels
XAU/USD
OVERVIEW
These days last price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Now every day open 1839.34

TRENDS
Daily SMA20 1838.62
Day SMA50 1874.97
Daily SMA100 1910.26
Day SMA200 1809.34

LEVELS
Previous Daily High 1847.78
Previous Daily Low 1824.16
Previous Weekly High 1875.34
Earlier Weekly Low 1822.22
Earlier Monthly High 1965.58
Previous Monthly Low 1764.6
Daily Fibonacci 38.2% 1838.76
Day Fibonacci 61.8% 1833.18
Everyday Pivot Point S1 1826.41
Everyday Pivot Point S2 1813.47
Day Pivot Point S3 1802.79
Daily Pivot Point R1 1850.03
Day Pivot Point R2 1860.71
Everyday Pivot Point R3 1873.65