“¢ Overnight hawkish comments by the Fed Chair Jerome Powell remain supportive of resurgent USD demand and kept exerting downward pressure on the dollar-denominated commodity. “¢ Yesterday’s fall below 200-week SMA marked a fresh bearish breakdown, with bears now looking for a subsequent weakness through a downward sloping trend-channel on the daily chart. “¢ Daily/hourly RSI (14) point to highly oversold conditions, albeit has failed to lend any support and stall the ongoing bearish momentum to the lowest level since July 2017. Gold daily chart Spot rate: $1224.40 Daily Low: $1222.38 Daily High: $1229.17 Trend: Bearish Resistance R1: $1229 (current day swing high) R2: $1234 (200-week SMA) R3: $1238 (previous YTD swing low) Support S1: $1229 (July-14, 2017, daily closing low) S2: $1220 (round figure) S3: $1214 (horizontal zone) 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 US Dollar clinches session tops near 95.30 ahead of Powell, data FX Street 5 years "¢ Overnight hawkish comments by the Fed Chair Jerome Powell remain supportive of resurgent USD demand and kept exerting downward pressure on the dollar-denominated commodity. "¢ Yesterday's fall below 200-week SMA marked a fresh bearish breakdown, with bears now looking for a subsequent weakness through a downward sloping trend-channel on the daily chart. "¢ Daily/hourly RSI (14) point to highly oversold conditions, albeit has failed to lend any support and stall the ongoing bearish momentum to the lowest level since July 2017. Gold daily chart Spot rate: $1224.40 Daily Low: $1222.38 Daily High:… 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.
