Gold (XAU/USD) struggled to preserve its bullish momentum last week and settled below $1,850. The level to watch is the 200-day SMA at $1,810 as the yellow metal is set to remain bid above this mark, FXStreet’s Eren Sengezer reports. Key quotes “On Wednesday, the IHS Markit will publish the Manufacturing PMI reports for Germany, the eurozone, the UK and the US. More importantly, the FOMC will announce its policy decisions alongside updated economic projections. Investors don’t expect any changes in the current policy stance but any convincing hints toward adjustments in the asset purchase program could impact the performance of Wall Street’s main indexes. An upsurge in US stocks could be expected to hurt the buck more than it does the precious metal.” “As long as the price remains above the 200-day SMA, which is currently located at $1,810, buyers could look to remain in control of the XAU/USD’s movements.” “On the upside, the initial resistance is located at $1,850, the Fibonacci 61.8% retracement of the June-August rally. When the price broke above that level earlier in the week, it failed to reach the next Fibo resistance, 50% retracement, at $1,900 and created an interim hurdle at $1,875, which is enforced by the 50-day SMA.” “Supportsare located at $1,810 (200-day SMA), $1,800 (psychological level) and $1,774 (Nov. 11 low).” 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 Irish PM Martin: Hopeful of a Brexit deal but significant challenges persist FX Street 2 years Gold (XAU/USD) struggled to preserve its bullish momentum last week and settled below $1,850. The level to watch is the 200-day SMA at $1,810 as the yellow metal is set to remain bid above this mark, FXStreet's Eren Sengezer reports. Key quotes “On Wednesday, the IHS Markit will publish the Manufacturing PMI reports for Germany, the eurozone, the UK and the US. More importantly, the FOMC will announce its policy decisions alongside updated economic projections. Investors don’t expect any changes in the current policy stance but any convincing hints toward adjustments in the asset purchase program could impact the performance… 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.