XAUUSD Technical Analysis

Gold tested a new 2-year low yesterday. Back from the weekend, gold has dropped to the early low near 1626 in the Asian session. However, the price has quickly rebounded. At the European session, it already reached the day-high at near 1649. Selling resumed in the late US session, where the day ended near the day-low at 1622. The overall trend in the 1-hour chart is now bearish after the price cleared the 1650(1) support last Friday. Selling momentum so far isn’t too strong; an S-T downtre

22Sep

Gold Trend 22/09

2022-09-22 @ 12:50

22Sep

Gold Trend 22/09

2022-09-22 @ 11:50

Gold bounced but failed to break out from the range. The day began at 1664 yesterday. The price was bounded by a tight 1660-65 range early in the Asian session. It reached the early peak of 1677 at the EU session after Putin’s speech. At the US Fed. The announcement, gold has rebounded quickly from the 1653 day-low to the weekly high of 1688. The day eventually ended at 1673, up slightly from yesterday. Market reaction was mixed after the US Fed. Meeting. The price is still controlled by t

21Sep

Gold Trend 21/09

2022-09-21 @ 14:52

21Sep

Gold Trend 21/09

2022-09-21 @ 13:52

Awaited Fed. rate decision, gold prices remained stable yesterday. The day began at 1675, where the price overall was trending downward throughout the early Asian and European sessions. It cleared the S-T trendline(1) at the US session and traveled all the way to 1660, the daily low from the day before. The day ended at 1664, down by USD 19. 1660-80(2) can be used as an operating range before the US Fed. An announcement later on today. Since gold cleared the 1680 support, the downward resistance