XAUUSD Is Ready To Reverse

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GOLD: US Dollar Hits Supply Zone, What Next?

Here's the latest news from Federal Reserve Chair Jerome Powell. While speaking at a conference in Portugal, Powell expressed optimism about the US economy and decreased the possibility of a recession, stating that the economy has shown resilience and is still growing, albeit at a modest pace. He acknowledged the possibility of a recession but

Gold Price Forecast: XAU/USD resilient despite Fed’s rate hike speculations on solid US data

Gold price regains momentum above $1900 despite increased odds of Fed rate hikes. US economic data underscores robust growth, pushing XAU/USD to test 200-day EMA. Treasury bond yields soar, underpinning projections of higher rates and potential headwinds for Gold demand. Gold price recovers some ground after sliding below the $1900 figure for the first time

Gold Price Forecast: XAU/USD to find a major floor at the 200-DMA of $1,856 – Credit Suisse

The decline in Gold is now on the cusp of Credit Suisse’s target of price and retracement support at $1,900/1,890. The bank analyzes XAU/USD technical outlook. Weekly close below $1,856 to reinforce the longer-term sideways range Gold has declined to our core target of $1,900/1,890 and with the rising 200-DMA seen not far below at

Breaking: ​​​​​​​Gold drops below $1,900 for the first time since mid-March

Stronger-than-expected US economic data boosts the US Dollar across the board. US Treasury yields spike higher, putting pressure on Gold. XAU/USD fell below $1,900/oz, reaching its lowest level in three months. Gold prices tumbled following the release of US economic data. XAU/USD broke below $1,900 for the first time since mid-March and fell to $1,894.

Gold Price Forecast: XAU/USD bears keep control, focus on $1,885 and Fed inflation gauge

Gold Price stays bearish near the lowest levels since March, braces for the second consecutive weekly loss. Hawkish Federal Reserve talks, upbeat United States data underpin US Dollar strength and weigh on XAU/USD. US-China jitters, Germany’s recession fears and fewer accolades for European Central Bank hawks also favor Gold sellers. China’s official PMIs, US PCE

Exciting Gold Price Forecast: XAU/USD stands firm above the $1,900 mark, while all eyes eagerly await the US PCE Price Index for a burst...

Gold price fails to attract any buyers or build on the overnight bounce from a multi-month low. Hawkish major central banks continue to act as a headwind for the non-yielding commodity. The US Dollar stands tall near a two-week high and also contributes to capping the XAU/USD. Investors keenly await the release of the US

Happy Friday, dear traders! This week was intense, and we hope you enjoyed it! Let’s check the news moving the markets today!

  • The yen fell to a new low against the dollar, breaking 145 for the first time in seven months.
  • Experts believe China’s recovery will fail because the government has launched a consumption-driven growth plan, which means the country will stop investing.
  • Virgin Galactic shares (SPCE) fell 14% after the first commercial flight.
  • Some cryptocurrencies skyrocketed because of the rumors about the new crypto exchange in the US called EDX Markets. Bitcoin Cash will be of the main assets for trading on EDX. BCHUSD is up 200% this week. 
  • Import prices in Germany fell 9.1% compared to May 2022. Also, retail sales in May 2023 are up 0.4%. The German economy, which accounts for most of the EU, is feeling better.

XAUUSD analysis


According to our analysis, the XAUUSD pair has reached the support level of 1900, corresponding to the global 38.2 Fibonacci level when considering the Retracement starting from the lows observed in October 2022. Furthermore, it is noteworthy that 1900 holds significant psychological significance in the market. Yesterday, there was a notable rebound from this support level, indicating considerable interest from buyers at these price levels. As a result, we anticipate a probable short-term reversal soon. It appears to be an opportune moment to consider purchasing XAUUSD around the 1900 level, with a target of 1930 in mind.

Have a great trading session!



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