XAU/USD failed to make a decisive move in either direction this week. $1,925 aligns as a critical support for gold. The descending triangle on the daily chart points out to a bearish outlook. The troy ounce of the precious metal fluctuated in a relatively tight range throughout the week and closed with a gain of $10 at $1,950. Gold technical outlook $1,925, Fibonacci 23.6% retracement of the uptrend that started in late March and ended in early August, has been tested numerous times in the past few weeks and seems to be holding bears in check. However, the descending triangle, which is a bearish pattern, that can be seen on the daily chart is using that static support area as its bottom. Additionally, the 50-day SMA is staying relatively close to that level, confirming its significance. With a daily close below $1,925, XAU/USD could extend its slide toward $1,900(psychological level/ Aug. 26 low) and $1,860 (Aug. 12 low). On the upside, the near-term outlook could turn bullish with a decisive break through $2,000 (psychological level). Ahead of that level, $1,975 (Sep. 16 high) could be seen as an interim resistance. Gold chart (daily) 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 Ripple Price Analysis: XRP/USD closes in on key Fibo resistance above $0.25 FX Street 2 years XAU/USD failed to make a decisive move in either direction this week. $1,925 aligns as a critical support for gold. The descending triangle on the daily chart points out to a bearish outlook. The troy ounce of the precious metal fluctuated in a relatively tight range throughout the week and closed with a gain of $10 at $1,950. Gold technical outlook $1,925, Fibonacci 23.6% retracement of the uptrend that started in late March and ended in early August, has been tested numerous times in the past few weeks and seems to be holding bears in check. However, the descending triangle,… 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.