29.03.202318:34 Forex Analysis & Reviews: Gold sellers in control again

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

The price of gold rebounded in the short term but it seems that the buyers are exhausted already. The instrument is trading at 1,963 at the time of writing and it seems under some bearish pressure. Technically, the price action signaled a potential larger correction phase. Still, we need strong confirmation before taking action.

The yellow metal dropped a little in the short term after the US Pending Home Sales reported better-than-expected data earlier. USD's growth could push XAU/USD down in the short term. So, the greenback needs strong support from the US Final GDP and Unemployment Claims indicators tomorrow.

XAU/USD Rebound Seems Over!

As you already know from my analyses, the price of gold tried to rebound and recover after its strong drop. Now, it has found resistance at the weekly pivot point of 1,974.

It's trapped between the pivot point and the 1,959 level. Escaping from this minor range could bring us new opportunities.

XAU/USD Forecast!

A bearish closure below 1,959 activates a downside movement and brings new selling opportunities. A larger drop should be activated after taking out the weekly S1 (1,938).

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.