Gold prices have been edging higher amid an upbeat mood, which seems to favor the precious metal, contrary to past behavior. Can it continue higher? Its technical battle lines are well-defined. The Technical Confluences Indicator is showing that fierce resistance awaits at $1,736, a convergence of lines including the Fibonacci 38.2% one-week, the Simple Moving Average 200-1h, the previous daily high, and the SMA 100-1h. Significant support is at $1,731, which is a dense cluster of indicators such as the SMA 50-15m, the SMA 10-1h, the SMA 10-4h, the Fibonacci 61.8% one-day, the SMA 200-15m, the Bollinger Band 15min-Mlower, the SMA 50-1h, and the BB 4h-Middle. If XAU/USD breaks above $1,736, the upside target is $1,748, which is the meeting point of the previous monthly high and the Fibonacci 61.8% one-week. The downside target below $1,731 is $1,712, which is the confluence of the Pivot Point one-week Support 1 and the SMA 200-4h. Here is how it looks on the tool: Confluence Detector The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies. This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence adjacents price levels. These weightings mean that one price level without any indicator or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas. Learn more about Technical Confluence FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD flirts with session tops near 1.0930, looks to data FX Street 3 years Gold prices have been edging higher amid an upbeat mood, which seems to favor the precious metal, contrary to past behavior. Can it continue higher? Its technical battle lines are well-defined. The Technical Confluences Indicator is showing that fierce resistance awaits at $1,736, a convergence of lines including the Fibonacci 38.2% one-week, the Simple Moving Average 200-1h, the previous daily high, and the SMA 100-1h. Significant support is at $1,731, which is a dense cluster of indicators such as the SMA 50-15m, the SMA 10-1h, the SMA 10-4h, the Fibonacci 61.8% one-day, the SMA 200-15m, the Bollinger Band 15min-Mlower, the SMA… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.