USD/CHF came under modest bearish pressure in American session. US Dollar Index continues to push lower as risk flows dominate the markets. Wall Street's
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Gold Weekly Forecast: XAU/USD fails to clear $1,800 hurdle ahead of key US dataANALYSIS |
4/23/2021 6:37:29 PM GMT
Gold failed to gather enough bullish momentum to break above $1,800.
Next week’s key data releases from US could trigger a breakout.
Key technical levels remain intact following this week’s action.
After gaining nearly 2% in the previous week, the XAU/USD pair stayed relatively quiet on Monday and Tuesday, fluctuating in a narrow band around $1,780. With the benchmark 10-year US Treasury bond yield continuing to edge lower, however, gold advanced to its highest level since late February at $1,797 in the second half of the week. On Friday, the pair lost its traction and erased its weekly gains to close flat around $1,780.
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Disclaimer
Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader s level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch s authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent au