Gold trades around the lowest since last Monday. Bearish MACD, sustained trading below key EMAs keep sellers hopeful. An upside break of 21-day EMA will trigger short-term recovery. Gold prices slip beneath 100-day EMA while taking rounds to $1,461 during the initial trading session on Monday. The yellow metal’s trading below 100-day and 21-day Exponential Moving Averages (EMAs) takes clues from 12-bar Moving Average Convergence and Divergence (MACD) that has been sending bearish signals recently. As a result, 61.8% Fibonacci retracement of July-September upside, at 1,448.50, gains sellers’ attention, a break of which will shift bears’ focus to 200-day EMA level of $1,417. Meanwhile, an upside clearance of a 100-day EMA level of $1,464 could push the bullion towards $1,475 including 21-day EMA. Assuming that the buyers’ sneak in around $1,475, a fresh upside to $1,481 and 38.2% Fibonacci retracement around $1,490 can be expected. Gold daily chart Trend: Bearish 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 Japan PM Abe-China’s Pres. Xi meeting likely to be in Spring 2020 – Reuters FX Street 3 years Gold trades around the lowest since last Monday. Bearish MACD, sustained trading below key EMAs keep sellers hopeful. An upside break of 21-day EMA will trigger short-term recovery. Gold prices slip beneath 100-day EMA while taking rounds to $1,461 during the initial trading session on Monday. The yellow metal's trading below 100-day and 21-day Exponential Moving Averages (EMAs) takes clues from 12-bar Moving Average Convergence and Divergence (MACD) that has been sending bearish signals recently. As a result, 61.8% Fibonacci retracement of July-September upside, at 1,448.50, gains sellers' attention, a break of which will shift bears' focus to 200-day EMA… 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.
