Gold (XAU/USD) has sold off to the 55-month moving average at $1707, between here and the $1653 uptrend, the yellow metal should stabilise, in the view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. See – Gold Price Analysis: Rising real yields raise the prospect of a serious XAU/USD fall – Credit Suisse Key quotes “Gold has sold off to the 55-month ma at $1707 and currently we cannot rule out further slippage towards the $1653 2019-2021 uptrend. If seen, we would expect this to hold the downside.” “Rallies will need to regain not only $1760/$1765.61, which is the May high and previous 50% retracement, but also the short-term downtrend at $1794 in order to alleviate downside pressure and signal recovery to the 200-day ma at $1861.” “Above the 200-day ma at $1861 lies $1906, the 21st December high, and the top of the channel at $1918. This guards the November and September highs at $1965.84/$1973.8 and the 78.6% retracement at 2006.” 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 UK’s Sunak: Cannot ignore problem of borrowing FX Street 1 year Gold (XAU/USD) has sold off to the 55-month moving average at $1707, between here and the $1653 uptrend, the yellow metal should stabilise, in the view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. See – Gold Price Analysis: Rising real yields raise the prospect of a serious XAU/USD fall – Credit Suisse Key quotes “Gold has sold off to the 55-month ma at $1707 and currently we cannot rule out further slippage towards the $1653 2019-2021 uptrend. If seen, we would expect this to hold the downside.” “Rallies will need to regain not only $1760/$1765.61, which is… 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.
