UPBO-SuperScalp

UPBO-SuperScalp

Analysis TVC:GOLD It’s worth noting, however, that the Relative Strength Index (RSI) line, placed at 14, remains below 50.0 and suggests bottom-picking, which in turn highlights the 61.8% Fibonacci retracement of the Gold Price run-up from late February to May, near $1,910. In a case where the XAU/USD drops below $1,910, the $1,900 round figure will precede...

UPBO-SuperScalp Updated 

Golden comment: The TVC:GOLD pair trades around a Fibonacci level, the 61.8% retracement of the $1,902.62/$1,987.40 rally. Technical readings in the daily chart indicate that the risk skews to the downside as indicators accelerated their slides within negative levels, reaching fresh one-month lows. At the same time, the pair stands below its 20 and 100 Simple...

UPBO-SuperScalp Updated 

OANDA:XAUUSD Gold price attracts some selling following an early uptick to the $1,946 area during the Asian session on Monday and drops to a fresh daily low in the last hour. The XAU/USD currently trades around the $1,940 region and for now, seems to have stalled its modest recovery move from the lowest level since July 11 touched on Friday. The closely-watched...

UPBO-SuperScalp Updated 

TVC:GOLD Moving ahead, there isn't any relevant market-moving economic data due for release from the US on Monday. Hence, traders will take cues from speeches by influential Fed officials, which might drive the US bond yields and the USD demand. Apart from this, the broader risk sentiment could provide some impetus to the Gold price. The fundamental backdrop,...

UPBO-SuperScalp Updated 

TVC:GOLD Gold prices are looking to extend their previous rally ahead of the US NFP announcement. In the event that the US jobs data disappoints, gold prices are likely to recover above the falling 50-day moving average (DMA) at $1945. Triangle support also aligns at that level. Recall that Gold price confirmed a symmetrical triangle breakout on the daily chart...

UPBO-SuperScalp Updated 

OANDA:XAUUSD Gold prices are looking to extend their previous rally ahead of the US NFP announcement. In the event that the US jobs data disappoints, gold prices are likely to recover above the falling 50-day moving average (DMA) at $1945. Triangle support also aligns at that level. Recall that Gold price confirmed a symmetrical triangle breakout on the daily...

UPBO-SuperScalp Updated 

OANDA:XAUUSD Gold prices edged higher in the Asian session on Thursday and partially reversed the previous day's decline to the $1933-$1932 region, or three-week lows. XAU/USD is now trading with a slight positive bias around the $1,937-$1.938 region, up nearly 0.20% on the day, though any meaningful upside move seems to remain elusive. The US Dollar (USD)...

UPBO-SuperScalp Updated 

OANDA:XAUUSD Gold prices gained some positive traction during the Asian session on Wednesday and partially reversed the previous day's sharp decline to the $1941 region, or three-week low. However, XAU/USD is having a hard time capitalizing on modest gains on the day and is currently trading just below $1,950, still up more than 0.20% on the day. Today my...

UPBO-SuperScalp Updated 

TVC:GOLD Gold prices consolidate in a narrow range between $1945 and $1952 during the Asian session on Wednesday. XAU/USD recovers some of the previous day's declines to $1941. Market sentiment remains sour as Fitch downgrades the US Long-Term Foreign Currency Issuer Default Rating from AAA to AA+. The top-rated company cites the expected financial slowdown over...

UPBO-SuperScalp Updated 

OANDA:XAUUSD CME Group gold futures market snapshot shows traders reduced their open interest positions in another session on Monday, this time by around 1.2k contracts. Volume followed and fell for the second straight session, currently nearing 50,000 contracts. A good start to the week saw gold prices rise further on Friday amid shrinking volumes and open...

UPBO-SuperScalp Updated 

OANDA:XAUUSD Gold price reversed from the nine-week horizontal resistance and broke the two-week support line to convince the sellers. The downside in XAU/USD also takes cues from bearish signals from the Moving Average Convergence and Divergence (MACD) indicator and the descending Relative Strength Index (RSI), set at 14, which is not oversold. With this, Gold...

UPBO-SuperScalp

OANDA:XAUUSD Gold prices are seeing 'buying' trading early on Tuesday, after finding new buyers just above the critical support area of ​​$1950. Gold buyers need to be accepted above the 100-day moving average (DMA) resistance turning support at $1,963 on a daily close to extend the recovery from six-day lows. The next upside hurdle aligns with the $1970 static...

UPBO-SuperScalp Updated 

TVC:GOLD In the event that the Gold Price still falls through the $1,930 level, the possibility of seeing a drop towards the round figure of $1,900 and then to the yearly low of $1,893 marked in June. Additionally, the support-turned-resistance line has lasted since early July, around $1975 at press time, defending the immediate upside in XAU/USD...