fxalexander123

fxalexander123 Updated 

Following a steady rebound toward $1,880 on Friday, Gold price made a sharp U-turn and turned negative on the day near $1,860. Although the 10-year US T-bond yield is down more than 1%, XAU/USD struggles to find demand on the last day of Q3. Gold now sell 1856 Sell limit 1860 Target 1852 Target 1848 Target 1830 SL 1880

fxalexander123 Updated 

From a technical perspective, the Relative Strength Index (RSI) on the daily chart is flashing oversold conditions and makes it prudent to wait for some near-term consolidation or a modest bounce before positioning for any further losses. That said, the overnight swing high, around the $1,880 region, is likely to act as an immediate strong barrier. A sustained...

fxalexander123 Updated 

Following a quiet European session, Gold price turned south in the second half of the day and dropped below $1,860 for the first time since March. Although the US Dollar struggles to find demand, the ongoing rally in the US yields continues to weigh on XAU/USD. Gold now sell 1865 Sell limit 1870 Target 1861 Target 1857 Target 1841 SL 1878

fxalexander123 Updated 

Gold price now seems to have found acceptance below the $1,900 mark, which, along with bearish oscillators on the daily chart, suggests that the path of least resistance is to the downside. Hence, some follow-through weakness towards retesting the August monthly swing low, around the $1,885-1,884 region, looks like a distinct possibility. Some follow-through...

fxalexander123 Updated 

Gold remains stuck below key averages, what’s next? Gold price is easing toward $1,920, making it for a negative start to a key week ahead. The United States Dollar (USD) and the US Treasury bond yields have entered a phase of consolidation near last week’s high, as investors look to this week’s inflation data from the US and Europe for a fresh directional...

fxalexander123 Updated 

Gold price remains capped below the critical support-turned-resistance at $1,926, where the 21- and 200-Daily Moving Averages (DMA) coincide. On Friday, Gold price managed to pierce through the latter to challenge the bearish 50 DMA at $1,929 but failed to find any acceptance, as Gold sellers re-emerged. The 14-day Relative Strength Index (RSI) indicator also...

fxalexander123 Updated 

The US Dollar is correcting from six-month highs against its major peers, as the Bank of Japan’s (BoJ) steady policy provided a sense of calm, lifting the overall market mood. Investors’s sentiment was dented by the US Federal Reserve’s (Fed) hawkish stance, which suggested a ‘higher for longer’ interest rate view. The BoJ maintained its ultra-easy monetary...

fxalexander123 Updated 

Gold price is challenging the critical support-turned-resistance at $1,925, which is the meeting point of the 21- and 200-Daily Moving Averages (DMA). A firm break above the latter is needed to unleash additional recovery toward the 50 DMA at $1,930. Further upside will hinge on acceptance above the 50 DMA, with eyes on the $1,950 barrier next. Gold now buy...