Forex Analysis for XAU/USD

Relevance up to 13:00 2020-07-04 UTC+2 Corona virus summary: The German chancellor, Angela Merkel, has started making official appearances wearing a maskAssociated Press reports. Merkel appeared in the upper house of parliament in Berlin on Friday wearing a black mask sporting the logo of German....

It’s simply the question of time before gold price gets to the higher levels. If we look at the price action on the H1, we’ll see several times when the market bought XAU/USD on the dips. That’s why declines to 1 772, 1 769 or 1 760 will inspire buying interest: traders will want to join the market ...

Relevance up to 10:00 2020-07-04 UTC+2 Gold has decreased a little in the short term, but the uptrend is still intact, so you could still look for buying opportunities. The yellow metal is traded at $1,775 level and it is expected to resume its upside movement after the minor retreat.Yesterday's m....

Relevance up to 10:00 2020-07-04 UTC+2 Trading RecommendationEntry: 1.3547Reason for Entry: Horizontal overlap supportTake Profit :1.3618Reason for Take Profit: The horizontal overlap resistanceStop Loss:1.3486Reason for Stop loss: Horizontal swing low support *The market analysis posted here is m....

Relevance up to 09:00 2020-07-04 UTC+2 Today we take a look at EURJPY and see how we are going to play the bounce!We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today *The market analysis posted h....

Relevance up to 09:00 2020-07-04 UTC+2 Trading RecommendationEntry: 1764.89Reason for Entry: Horizontal overlap support, 78.6% fibonacci retracement and 78.6% fibonacci extensionTake Profit: 121.454Reason for Take Profit: Horizontal swing high resistance, 78.6% fibonacci extensionStop Loss: 120.19....

03.07.2020EURUSD, “Euro vs US Dollar”EURUSD is forming another descending wave. Possibly, today the pair may break 1.1222 and then continue falling with the short-term target at 1.1180. After that, the instrument may correct to test 1.1222 from below and then start another decline to reach 1.1144.GB...

Gold dropped significantly yesterday, while analysts predicted $1 800. Were they wrong? Reasons of gold rally XAU/USD set a strong upward trend. It reached the 8-year high. Most economists predicted that the gold price would continue rising up to $1 800. Indeed, gold tends to increase amid the marke...

Gold hits 8 year high The price of Gold has pulled back in today’s trading session after reaching an 8 year high as a rise in coronavirus cases sparked concerns over the economic recovery from the devastating effects of the virus and boosted demand for safe-havens. Just when things seemed to be gett...

Relevance up to 09:00 2020-07-03 UTC+2 Trading RecommendationEntry: 1764.89Reason for Entry: Horizontal overlap support, 61.8% fibonacci retracement, 78.6% fibonacci extensionTake Profit: 1792.66Reason for Take Profit: Horizontal swing high resistance, -27.2%, 227.2% fibonacci retracement, 100% fi....

Relevance up to 09:00 2020-07-03 UTC+2 Today we take a look at EURJPY and see how we are going to play the bounce!We use Fibonacci retracements, extensions, support/resistance, momentum and trend lines to identify trading opportunities in this exciting pair today *The market analysis posted h....

Relevance up to 08:00 2020-07-03 UTC+2 Gold price has pulled back towards $1,758 from $1,788 highs. In our last analysis bulls were warned that price was at overbought levels and the RSI was giving us warning signs of a coming pull back.Red lines -bullish channelGold price remains inside the upwar....

02.07.2020EURUSD, “Euro vs US Dollar”After completing the descending structure at 1.1184, EURUSD is growing towards 1.1287, thus forming a new consolidation range around 1.1240. After reaching 1.1287, the instrument may start another decline with the target at 1.1204.GBPUSD, “Great Britain Pound vs ...

02.07.2020USDCHF, “US Dollar vs Swiss Franc”In the H4 chart, after breaking 3/8, USDCHF is expected to continue trading downwards to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing towards ...

02.07.2020XAUUSD, “Gold vs US Dollar”As we can see in the H4 chart, the ascending tendency continues. After finishing the pullback and testing the support level, XAUUSD has formed a Hammer pattern. At the moment, the price may start reversing to continue the uptrend. In this case, the upside target ...

Long-term review When Fed officials are increasingly talking about uncertainty and are not going to raise the federal funds rate before 2023, and the market is full of rumors about a double recession of the US economy, gold has no choice but to grow. The most actively traded COMEX futures with an ....

Relevance up to 13:00 2020-07-03 UTC+2 Corona virus summary: The United States again reported a record one-day increase in corona virus cases on Tuesday, with 44,358 new corona virus cases confirmed in the country, according to corona-virus database the Covid Tracking Project, as infections surg....

01.07.2020EURGBP, “Euro vs Great Britain Pound”EURGBP is trading at 0.9074; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.9065 and then resume moving upwards to reach 0.9225. Anot...

01.07.2020EURUSD, “Euro vs US Dollar”After completing another correctional structure at 1.1260, EURUSD is falling towards 1.1215. Possibly, today the pair may reach this level and then form a new consolidation range around it. If later the price breaks this range to the downside, the market may cont...

Relevance up to 22:00 UTC+2 Gold price is making new higher highs today. Price remains in bullish trend after the pull back towards $1,750. The RSI is now showing some warning signs as price is making new higher highs. The RSI indicator however is not making new higher highs as we see in the 4 hou....

Long-term review Minor operating scale (Daily time frame) The July battle of the metals: analysis of possible price movements from July 1st You can look through the previous review: Gold & Silver analysis, a four-hour time frame from June 24th, 2020 Spot Gold From July 1st, 2020, the spot g....

Chinese Oil Alliance China's state-owned oil companies are negotiating an alliance for joint oil purchases. Four state-owned refineries (China Petroleum & Chemical, PetroChina, CNOOC and Sinochem Group) will jointly announce the price of some grades of oil. In official sources, this is presented...

Long-term review The strengthening of the US dollar, the deterioration of the epidemiological situation in the US, and rumors about the resumption of Libyan oil exports in previous volumes do not allow the "bulls" for Brent and WTI to continue the rally. Although the North Sea variety has strength....

Relevance up to 13:00 UTC+2 Corona virus summary: Most visitors from the US are set to remain banned from entering the European Union because of the country's rising infection rate in a move that risks antagonising Donald Trump. In an attempt to save the European tourism season, a list of 15 cou....

Relevance up to 04:00 UTC+2 Continued growth in the price of gold is a priority. The main obstacle to growth was the monthly control zone. This zone will become history tomorrow and will continue to work in an upward direction. Any price fall should be considered as an opportunity to buy the inst....

Relevance up to 03:00 UTC+2 Technical outlook:Gold had rallied towards $1,780 levels on June 24, 2020; before pulling back. The yellow metal had dropped to $1,747 levels and found support of a short-term trend line passing through. Gold is seen to be trading around $1,769 levels at this point in w....

30.06.2020EURUSD, “Euro vs US Dollar”After completing the descending structure at 1.1218 along with the correction towards 1.1251, EURUSD is expected to fall and break 1.1210 and then continue trading downwards to reach 1.1180. Later, the market may return to 1.1218 to test it from below and then fo...

Relevance up to 21:00 2020-06-30 UTC+2 Gold price has a slow start for the week with low volatility and no clear direction. Trend remains bullish as price is still inside the short-term upward sloping channel created at the beginning of June. Since then price continues to make higher highs and hig....

Relevance up to 13:00 UTC+2 Corona virus summary: Chinese authorities have put almost half a million people in Hebei province, which surrounds Beijing, under lockdown as a fresh outbreak in the capital continues to fan fears of a second wave of the coronavirus. Anxin county, about 145km (90 mile....

Relevance up to 10:00 2020-06-30 UTC+2 Gold is bullish and most likely it will resume the upside movement, will approach, and reach fresh new highs after Friday's false breakdown below a near-term downside obstacle. The price is trading at $1,769.45, it has decreased a little today, but the bias i....