XAU/USD standpoint: Gold remaining parts upheld however bulls need break of significant boundary to continue

Share on facebook
Share on twitter
Share on whatsapp


Spot gold recovered foothold and rose on Friday, following a shallow dunk in beyond two days. Close term activity has laid out above 200DMA that adds to bullish close term predisposition, but it is as yet running between 200DMA ($1839) and $1867 (Fibo 38.2% of $1998/$1786).

The metal is on target for the second sequential bullish week after week close, expanded by more fragile dollar that adds to positive close term tone.

Arrangement of 10/200DMA brilliant cross and rising 14-d force arising into a positive area, support the activity, however bulls need affirmation on supported break above $1867 turn that will flag bullish continuation and uncover targets $1886/92 (100DMA/half retracement of $1998/$1786) and mental $1900 hindrance.

Res: 1867; 1874; 1886; 1892.
Sup: 1848; 1839; 1836; 1810.

Interested in XAU/USD technicals? Check out the key levels

  1. R31869.86
  2. R21862.13
  3. R11856.46


  1. S11843.06
  2. S21835.33
  3. S31829.66

About the author

Nafees Saifi // entrepreneur, author, trainer, and stocks and FX trader. 
Nafees Saifi is a professional FX trader from, India. Nafees has extensive experience trading commodities, bonds, and equity futures in the Asian, European, and US markets. Nafees holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.


Leave a Reply