XAU/USD technical set up remains in favor of bears in the near-term

 Gold has held on the support structure between $ 1.916 / 20 in the beginning of the track of the week of $ 1918.64 and $ 1933.29, to date, companies in dollars US in consolidation.

DXY was unable to maintain the support in the area last week 93,30 / 50 and has given way to the bear to print a two-week low of 93.01.

Subsequently, the price of gold has the role of a safe haven, rallying the most in six weeks as hopes of a recovery plan in the United States pushed the dollar lower.

Furthermore, US equities had a good start to the week, pulling down on gold as risk rallies on recovery hopes.

XAU/USD picks up bids above $1,920 amid mixed signals

Gold prices give new impetus to reverse by moving up to the intraday high of $ 1924.52 during the Tuesday morning Asian session. The yellow metal broke a series of three-day victories yesterday as markets react to the increased likelihood of a delay in the US stimulus coronavirus (Covid-19). also providing the background music to the movements of gold were China’s actions to tame the strength of the yuan and Covid-19 misfortunes.

However, new challenges to China-US relations and anticipated worsening conditions American virus battle negative status of US President Donald Trump for the deadly virus after four days of infection, promote recovery of the last ingot.

Comments

Post a Comment

Popular posts from this blog

How do you use forex signals?

  Well, it’s a vast explanation. But I will explore it as much as short. Using forex signals is mainly get profit from a trade. It is not an easy task that whenever you make a trade it will bring profit. So, most of the beginner trader use the forex signal at the beginning. Because they are afraid of their capital. They thought it will be loose. But if you do not come closer to water how can you learn swimming? Forex signals provide an accurate sign that that’s the time for trade and the trader grab that opportunity and dive into it. But, in the majority of the people are trading by themselves. Because if we look back into 10 years back that there will be no forex signals but people could trade that time without forex signals. So, if we want to trade without it, you can. But I think if you want to get more profit and haven’t enough experience about trading. You can use forex signals. Because if not, you can lose a big amount of money from your capital.
Read more

Dollar edges lower, gold finds its feet, US consumer confidence eyed

  Here’s what you need to know Friday, September 18: The US dollar retreats off the peaks, allowing other currencies and gold to recover while inventories were stable after several days of declines. US consumer confidence and more retail figures are also aligned a turbulent week draws to a close. The greenback gave ground, paring some of its gains from the Federal Reserve. The Fed signaled no rate hike in 2023, but refrained from offering a new immediate boost despite expressing concern about the prospects. This led to a fall in stock and demand for the dollar, moves now partially unwound. After retail sales in the US in August disappointed, the University of Michigan consumer confidence index for September preliminary outlines on purchases this month. the release of applications for unemployment benefits Thursday was mixed, but still showing a downward trend in applications. See United States Michigan Consumer Sentiment Preview September: A large dose of reality Gold is trading at...
Read more

How do I make money fast on social media as a teen?

  As a teen, making money is a hard choice. Because they do not have enough time for earning money. They are studying all over the year and busy with their studies to get the best results. But it is not fast though. You have to work hard for this and you will get it. So, if you really want to make some money on social media sites, you have to do some things or may follow some steps which I include below: Create and Promote Your Own Information Products If you already have a blog, and you’ve demonstrated your expertise on a specific subject over a period of time, there may be an opportunity to create an ebook, audio program, or video course and sell it to your audience. Social media is the perfect place to promote such a product. As with anything, quality is key to creating something people not only want to read but will pay to read. If you take extra care in creating great information, designing and promoting it well, you will definitely see more sales. Promote Products and Service...
Read more