May 5, 2021 20:01 GMTFXStreet News
Gold is trapped on the daily time frame and traders are looking for a confirmation bias.
The bulls are watching for a break of monthly resistance to confirm their bias.
Bears are yet to fully test the weekly support structure.
As per the prior analysis, ‘Gold Price Analysis: Bulls and bears battle it out at critical resistance,’ the price has indeed found demand again and continues to be a battle between the bulls ad bears at a critical area across the time spectrum of the charts.
For instance, the monthly and weekly charts are somewhat conflicting, whereas the daily is more aligned with a bullish perspective.
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Gold Price News and Forecast: XAU/USD remains confined in a range around $1,770 levelNEWS |
4/30/2021 12:14:19 PM GMT | By FXStreet Team
Gold Price Analysis: XAU/USD to wait until the end of the year to see new highs – Credit Suisse
Gold (XAU/USD) holds a near-term base and strategists at Credit Suisse see scope for a fresh test of resistance from its 200-day average at $1857.
Rising US Real Yields, as well as a sideways USD, are likely to see strength capped here for now though.
We look for a recovery back to $1835, potentially the 200-day average and downtrend at $1857/79, but with a fresh cap expected here for now. Read more.
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Gold Price News and Forecast: XAU/USD to move downward over the next couple of yearsNEWS |
4/27/2021 2:09:51 PM GMT | By FXStreet Team
Gold Price Analysis: XAU/USD struggles for direction, flat-lined above $1,780 level
Gold reversed an intraday dip to the $1,774 area and is currently placed near the top end of its daily trading range, around the $1,782-83 region.
Worries that surging COVID-19 infections in some countries could derail the global economic recovery continued lending some support to the safe-haven XAU/USD. Apart from this, the emergence of some fresh selling around the US dollar further benefitted the dollar-denominated commodity. However, a modest pickup in the US Treasury bond yields kept a lid on any further gains for the non-yielding yellow metal. Read more.
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Gold Price News and Forecast: XAU/USD slides to fresh session lows, closer to $1,780 levelNEWS |
4/22/2021 1:28:30 PM GMT | By FXStreet Team
Gold Price Analysis: XAU/USD seesaws below $1,800, immediate rising wedge keeps sellers hopeful
Gold reverses the latest pullback moves from multi-day top while taking rounds to $1,794 ahead of Thursday’s European session.
Even so, the yellow metal stays inside a bearish chart pattern, rising wedge, on the hourly formation.
Not only the bearish formation but the downbeat MACD conditions and the commodity’s indecisive moves around the two-month high also back the odds of the pullback. Read more.
Gold Price Analysis: XAU/USD slides to fresh session lows, closer to $1,780 level