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Forex News – NTVforex Gold Price News and Forecast: XAU/USD revealed rising wedge pattern [Video]

By on October 25, 2020 0 16 Views
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Forex News – NTVforex Gold Price News and Forecast: XAU/USD revealed rising wedge pattern [Video]

| 12:39 GMT
|
By NTVForex Team

Gold: The bulls are taking a breather [Video]

Anyone trading gold on Friday may just as well have gone back to bed, as the market completed the smallest daily range (just $5) of 2020. Last week we focused on the four week uptrend, which had been briefly breached by the Nonfarm Payrolls volatility but essentially remained intact. This support of the uptrend could well be broken simply by consolidation this week. What this does mean is that the bulls who have been driving the market to new multi-year highs last week, are just taking a breather. The question is whether this turns into a near term slip or is the precursor to the next leg higher. Support in the band $1757/$1764 will determine this. A closing breach of $1764 could see a drift back towards $1744/$1747 which is the next area of old breakout support. Read More…

 

XAU/USD analysis: Revealed rising wedge pattern

Last week, the XAU/USD exchange rate revealed a rising wedge pattern. During Monday, the rate was trading at 1,775.00.

It is likely that some upside potential could prevail in the market, as yellow metal could gain support from the 55-, 100– and 200-hour SMAs in the 1,770.00/1,775.00 area. In this case the rate could target the 1,785.00/1,790.00 area. Read More…

 

Gold clings to modest daily gains, just above $1775 level

Gold edged higher during the early European session and was last seen trading near the top end of its daily trading range, around the $1776-78 region.

The emergence of some fresh US dollar selling assisted the dollar-denominated commodity to reverse an early dip to the $1770 area on the first day of a new trading week. This coupled with concerns about the continuous surge in coronavirus cases further extended some support to the safe-haven precious metal. Read More…

XAU/USD

Overview

Today last price
1782.88

Today Daily Change
6.69

Today Daily Change %
0.38

Today daily open
1776.19

 

Trends

Daily SMA20
1747.5

Daily SMA50
1728.5

Daily SMA100
1678.16

Daily SMA200
1593.25

 

Levels

Previous Daily High
1777.21

Previous Daily Low
1772.76

Previous Weekly High
1789.28

Previous Weekly Low
1757.7

Previous Monthly High
1785.91

Previous Monthly Low
1670.76

Daily Fibonacci 38.2%
1775.51

Daily Fibonacci 61.8%
1774.46

Daily Pivot Point S1
1773.56

Daily Pivot Point S2
1770.94

Daily Pivot Point S3
1769.11

Daily Pivot Point R1
1778.01

Daily Pivot Point R2
1779.84

Daily Pivot Point R3
1782.46

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