Gold looking to chart trough on weekly Below is the weekly chart of XAUUSD. Given the risk that markets are generally overbought, it is instructive to consider gold. One would imagine that as capital leaves the risk markets, and as their oscillators normalize, that it will find a new home in havens. To this end, gold may be charting a turning point. We note that last week’s candle may be a bullish reference candle i.e. a candle with the lowest low in at least a 3-candle cluster. Price this week has moved above last week’s high, but it will need to close above it to give real weight to the bullish reference candle scenario. On a relative level, the precious metal’s RSI was oversold and is now correcting (green rectangle). We continue to monitor. Read more… Gold loses momentum ahead of $1,480 as the focus remains on trade, FOMC XAU/USD extended its steady recovery that started last week and touched a fresh two-week high of $1,479 before losing its traction ahead of the American session. As of writing, the pair was trading at $1,473.50. The lack of clarity on the US-Sino trade dispute has been weighing on the market sentiment since the start of the week and allowing safe-haven assets such as the precious metal find demand. Read more… 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 Eurozone: Manufacturing weakness is yet to hit investment – ABN AMRO FX Street 3 years Gold looking to chart trough on weekly Below is the weekly chart of XAUUSD. Given the risk that markets are generally overbought, it is instructive to consider gold. One would imagine that as capital leaves the risk markets, and as their oscillators normalize, that it will find a new home in havens. To this end, gold may be charting a turning point. We note that last week's candle may be a bullish reference candle i.e. a candle with the lowest low in at least a 3-candle cluster. Price this week has moved above last week's high, but it will… 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.
