Gold has set a base above $1755/65 after retesting long-term support at $1682/71. Strategists at Credit Suisse expect XAU/USD to rise towards the $1835 mark. See – Gold Price Analysis: US Treasury yields and USD to ease later in the year, allowing for XAU/USD gains – HSBC Gold to negate the base below $1724/21 “Gold has retested and again held key support at $1682/71 – the 38.2% retracement of the entire 2015/2020 bull market and the recent and June 2020 lows – and the subsequent break above $1755/65 has seen a near-term ‘double bottom’ base established.” “We look for a recovery back to $1835, potentially the 200-day average and downtrend at $1857/83, but with a fresh cap expected here for now.” “Back below $1724/21 would see the basing effort quickly negated.” 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 USD/CAD Price Analysis: Descending channel resistance capped the upside ahead of BoC FX Street 2 years Gold has set a base above $1755/65 after retesting long-term support at $1682/71. Strategists at Credit Suisse expect XAU/USD to rise towards the $1835 mark. See - Gold Price Analysis: US Treasury yields and USD to ease later in the year, allowing for XAU/USD gains - HSBC Gold to negate the base below $1724/21 "Gold has retested and again held key support at $1682/71 - the 38.2% retracement of the entire 2015/2020 bull market and the recent and June 2020 lows - and the subsequent break above $1755/65 has seen a near-term 'double bottom' base established." "We look for a… 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.
