XAU/USD Once again fails near $1475 level Gold failed to capitalize on its early uptick to over one-week tops and once again started retreating from the $1475 resistance zone. Currently hovering around the $1466 region, the commodity has now erased all of the previous session’s modest intraday gains. The mentioned barrier represents a previous horizontal support breakpoint and the lower end of a one-month-old trading range, which is closely followed by 100-day SMA and should act as a key pivotal point for the commodity’s next leg of a directional move. Read more… Gold: bulls need a decisive pop above $1494 Following the downside break of $1458 key October low, gold has engaged in a mild unwinding drift back higher. We continue to see this move will be the source of the next chance to sell. There is resistance of overhead supply $1474/$1480 which is now being tested. Another failure around here could be the trigger signal. The RSI failing around 45/50 would be a negative signal now and already the Stochastics are looking tired in a rebound. The hourly chart shows a recovery has lost some of its impetus now and more neutral set up is beginning to develop across momentum indicators. Initial support of yesterday’s low at $1456 now protects $1445. The bulls need a decisive pop above $1494 to really suggest a sustaining recovery. 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 The cryptocurrency market update: Bears resume the aggressive sell-off FX Street 3 years XAU/USD Once again fails near $1475 level Gold failed to capitalize on its early uptick to over one-week tops and once again started retreating from the $1475 resistance zone. Currently hovering around the $1466 region, the commodity has now erased all of the previous session's modest intraday gains. The mentioned barrier represents a previous horizontal support breakpoint and the lower end of a one-month-old trading range, which is closely followed by 100-day SMA and should act as a key pivotal point for the commodity's next leg of a directional move. Read more... Gold: bulls need a decisive pop above $1494… 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.
