Gold has been shooting higher after the Federal Reserve opened the door to more money-printing – even if not at the current juncture. Moreover, US fiscal stimulus talks are progressing with growing chances that an accord is struck within hours. The prospects of more funds flowing from Washington have boosted the precious metal. How is XAU/USD positioned on the charts? The Technical Confluences Indicator is showing that gold has faced soft resistance at $1,899, which is where the Pivot Point one-week Resistance 2 meets the previous 1h-high. A strong cap awaits at $1,907, which is a juncture including the 100-day Simple Moving Average and the PP one-month R1. Looking down, support is at $1,889, which is the confluence of the Fibonacci 61.8% one-month and the Bollinger Band 1h-Upper. Further below, the next cushion is at $1,872, which is a cluster including the BB 1h-Middle, the PP one-day R1, and the 50-day SMA. XAU/USD resistance and support levels 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. 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 Brexit News: UK’s Gove says chances of deal less than 50%, GBP/USD pressured under 1.36 FX Street 2 years Gold has been shooting higher after the Federal Reserve opened the door to more money-printing – even if not at the current juncture. Moreover, US fiscal stimulus talks are progressing with growing chances that an accord is struck within hours. The prospects of more funds flowing from Washington have boosted the precious metal. How is XAU/USD positioned on the charts? The Technical Confluences Indicator is showing that gold has faced soft resistance at $1,899, which is where the Pivot Point one-week Resistance 2 meets the previous 1h-high. A strong cap awaits at $1,907, which is a juncture including the 100-day Simple Moving… 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.
