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Xauusdforex

Xauusd sell Gold price scales higher for the fifth straight day – also marking the seventh day of a positive move in the previous eight – and touches a fresh record high, around the $2,732-2,733 region on the first day of a new week. From a technical perspective, last week's sustained strength and close above the $2,700 mark could be seen as a fresh trigger for bullish traders. That said, the Relative Strength Index (RSI) on the daily chart has moved beyond the 70 mark, flashing slightly overbought conditions. This, in turn, makes it prudent to wait for some near-term consolidation or a modest pullback before positioning for an extension of the recent well-established uptrend. Gold now sell 2733 Support 2723 Support 2718
OANDA:XAUUSDShort
by JohnHarry_7
Xauusd sell On the flip side, weakness below the $2,632-2,630 immediate support is likely to attract some buyers and remain limited near the $2,600 round-figure mark. Failure to defend the said handle will be seen as a fresh trigger for bearish traders and make the Gold price vulnerable to accelerate the fall towards the next relevant support near the $2,560 zone. The corrective slide could extend further towards the $2,535-2,530 region en route to the $2,500 psychological mark. Gold now sell 2660 Target 2620 Resistance 2675
OANDA:XAUUSDShort
by JohnHarry_7
Xauusd sell signal Gold price attracts some dip-buying on the first day of a new week and trades near a one-week top, around the $2,660 region heading into the European session. The US PPI pointed to a favorable inflation outlook and suggested that the Fed will cut interest rates further. Any subsequent slide is likely to find some support near the $2,632-2,630 region, below which the Gold price could accelerate the fall towards the $2,600 round-figure mark. A convincing break below the latter will be seen as a fresh trigger for bearish traders and pace the way for some meaningful downfall. The XAU/USD might then drop to the next relevant support near the $2,560 zone and extend the decline towards the $2,535-2,530 region en route to the $2,500 psychological mark. Gold now sell 2660 Target 2642 Target 2628
OANDA:XAUUSDShort
by JohnHarry_7
CPI signal On the flip side, the trading range support breakpoint, around the $2,630-2,635 region, now seems to act as an immediate hurdle. Any further move up could be seen as a selling opportunity and remain capped near the $2,657-2,658 horizontal barrier. A sustained strength beyond the latter could lift the Gold price to the $2,670-$2,672 supply zone, above which bulls might aim to challenge the all-time high, around the $2,685-2,686 zone touched in September. This is closely followed by the $2,700 mark, which if cleared will set the stage for an extension of a well-established multi-month-old uptrenn Gold now buy 2611 Support 2644 Confirm CPI signal Gold price bulls seem non committed as focus remains glued to US CPI report
OANDA:XAUUSDShort
by JohnHarry_7