Locus1996

Locus1996 Updated 

On the flip side, the upper band of the Bollinger on the daily chart and Pivot Point one-day R1 restricts the immediate upside of the Gold Price near $1,950. More importantly, the 100-DMA and Pivot Point one-day R2, close to $1,957–58, appears a tough nut to crack for the XAU/USD bulls before rushing towards the Fibonacci 23.6% on one-month surrounding...

Locus1996 Updated 

Gold Price (XAU/USD) struggles to gain around $1,935 during the early European session on Wednesday. The weaker US dollar and a sharp drop in US Treasury yields drags the Greenback lower across the board. Meanwhile, the US Dollar Index (DXY) edges lower to 103.55 while the 10-year yield fell from 4.20% to 4.14%, near the lowest level in two weeks. Gold Sell...

Locus1996 Updated 

Gold prices were poised to achieve their first weekly gain in a month. However, following Federal Reserve (Fed) Chair Powell's speech, they started to decline, eroding significant gains and indicating a prevailing downside bias. The fundamental narrative currently favors the US Dollar, which could continue to limit any potential correction in XAU/USD. Gold Sell...

Locus1996 Updated 

Gold prices were poised to achieve their first weekly gain in a month. However, following Federal Reserve (Fed) Chair Powell's speech, they started to decline, eroding significant gains and indicating a prevailing downside bias. The fundamental narrative currently favors the US Dollar, which could continue to limit any potential correction in XAU/USD. Gold buy...

Locus1996 Updated 

In a case where the bulls manage to cross the $1,920 hurdle, the Gold Price run-up toward the joint of the Fibonacci 161.8% on one-week, Pivot Point one-day R3 and 200-SMA on four-hour, close to $1,937, can’t be ruled out. Gold buy 1915 Target 1920 Target 1925 Target 1930 Sl 1905

Locus1996 Updated 

Gold positions for Jackson Hole speeches above $1,900 support Gold Price reverses from a fortnightly high while consolidating the first weekly gains, so far, ahead of the top-tier central bankers’ speeches at the Jackson Hole Symposium. In doing so, the bright metal bears the burden of the recently firmer US Treasury bond yields and the USD. Gold Sell 1916 Target...

Locus1996 Updated 

Before that, Pivot point one-week R2, near $1,930, may test the XAU/USD buyers. It’s worth noting that Pivot Point one-week R3 acts as an extra upside filter around $1,942. That said, the previous weekly high joins the middle band of the Bollinger on the hours chart and Pivot Point one-month S1 to highlight $1,916 as an immediate support. Following that, the...

Locus1996 Updated 

Gold price managed to settle Tuesday above the descending trendline resistance, then at $1,891, as it moved away from multi-month troughs. Gold buyers now need acceptance above the $1,900 round figure to take on the upward-sloping 200-Daily Moving Average (DMA) at $1,909. A sustained move above the 200 DMA barrier will open doors for a test of the $1,920 round...

Locus1996 Updated 

Gold Price portrays bearish consolidation at the lowest level in five months while defending the week-start rebound amid mixed sentiment. US Dollar’s downbeat performance allows the XAU/USD to pare previous losses at the multi-day bottom. Gold Sell 1900 Target 1895 Target 1890 Target 1885 Sl. 1811

Locus1996 Updated 

Gold Price stays well beneath the $1,898 resistance confluence comprising Fibonacci 38.2% in one week, 100-SMA on one-hour and the previous daily high. Adding strength to the downside bias is the XAU/USD’s sustained trading below $1,892 immediate hurdle including the Fibonacci 61.8% on one-day and the middle band of the Bollinger on the hourly play. It’s worth...

Locus1996 Updated 

Gold price gains some positive traction on Friday and for now, seems to have snapped a four-day losing streak to its lowest level since March 13, around the $1,885 region touched the previous day. Gold Sell 1893 Target 1886 Target 1880 Target 1875 Sl. 1905

Locus1996 Updated 

Gold price is consolidating lossess in early Thursday’s trading, having touched the lowest level in five months at $1,890. XAU/USD sellers are biding time before the next push lower, as the United States Dollar (USD) continues to garner demand heading into a fresh batch of mid-tier US economic data. Gold Sell 1896 Target 1890 Target 1885 Target 1880 Sl. 1906

Locus1996 Updated 

Gold price flirts with the crucial support of $1,900 as investors await the FOMC minutes to attain guidance about inflation and the interest-rate peak. The XAU/USD continues to find offers from market participants as the USD and Treasury yields strengthen due to the resilience of the US economy, which contrasts with China’s poor economic outlook. Gold Sell...

Locus1996 Updated 

On the flip side, the $1,910 area is likely to act as an immediate hurdle ahead of the overnight swing high, around the $1,916 zone. The subsequent move up could lift the Gold price beyond the $1,925 intermediate resistance, towards the $1,934-$1,935 resistance and the $1,942 supply zone. A sustained strength beyond the latter might trigger a short-covering rally...

Locus1996 Updated 

From a technical perspective, the XAU/USD, so far, has managed to defend and hold above the 200-day Exponential Moving Average (EMA). The said support is currently pegged around the $1,907 area, which should now act as a pivotal point. This is followed by the $1,900 round figure, which if broken decisively will be seen as a fresh trigger for bearish traders and...

Locus1996 Updated 

Gold price gauges support near $1,912.00 after a sheer sell-off. Still, the downside seems favored as United States CPI data for July showed inflation remains sticky. The US Consumer Price Index rose at a slower-than-forecasted pace in July. Higher rentals and a modest recovery in gasoline prices were broadly offset by the lower cost of second-hand automobiles.

Locus1996 Updated 

Gold price finds a short-term cushion after testing crucial support of $1,920.00. For a solid recovery, the precious metal needs to pass through plenty of filters ahead. On a broader note, Gold price seems vulnerable after a Bear Cross conducted by the 20 and 50-day Exponential Moving Averages (EMAs). The 200-EMA at $1,907.00 should continue to provide cushion to...

Locus1996 Updated 

Gold price struggles to stabilize above the immediate support of $1,930.00 amid an absence of supportive economic indicators. The precious metal shifts into bearish territory after a breakdown of the Head and Shoulders chart pattern formed on a lower time frame. Bear cross, represented by the 20 and 50-day Exponential Moving Averages (EMAs) at $1,950.00, indicates...