Gold Price Forecast: XAU/USD to see further weakness to $1,900, potentially $1,850 – Credit Suisse Gold XAUUSD Technical Analysis Banks
Gold is moving below support from its 100-DMA and with a minor top in place we see scope for further weakness to price and retracement support at $1,900/1,890, potentially as far as the 200-DMA at $1,850/49.
Our bias would then be for a major floor to be found here for strength back to $1,985 initially, then a retest of major resistance at the $2,063/2,075 record highs. We still stay biased to an eventual break to new record highs later in the year.Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD steady while US Dollar strengthens amidst closed US marketsGold price trades with minimal losses amidst a quiet US session due to a holiday in the United States (US). Therefore as US markets are closed, thin l
Read more »
Gold Price Forecast: XAU/USD to do quite well in the months ahead – TDSGold was little changed after the Fed rate decision. Economists at TD Securities analyze XAU/USD outlook. Future rate decisions will very much be driv
Read more »
Gold Price Forecast: XAU/USD retreats towards $1,920, China, Fed concerns in the spotlightGold Price (XAU/USD) edges lower to $1,950 after a softer start to the week, despite a sluggish one due to the United States holiday, as market sentim
Read more »
Gold Price Forecast: XAU/USD lacks any firm intraday direction, flat-lines around $1,950 areaGold Price Forecast: XAU/USD lacks any firm intraday direction, flat-lines around $1,950 area – by hareshmenghani Gold Commodities CentralBanks InterestRate XAUUSD
Read more »
Gold Price Forecast: XAU/USD to feel comfortable at around $1,950 for the foreseeable future – CommerzbankLast week’s Fed meeting did not really weigh on the Gold price in any lasting manner. Economists at Commerzbank analyze XAU/USD outlook. Interest rate
Read more »
Gold Price Forecast: XAU/USD tumble amidst strong USD, Fed’s Powell testimony loomsGold price tumbled sharply in the North American session as trading resumed after a holiday in the United States (US). A stronger US Dollar (USD) is t
Read more »