Forex Traders Portal

The 61.8% Finonacci retracement represents a continuation of the bearish cycle that might span from $5,600 to $4,400, so this level is likely to be a key point for bears...

If the downward pressure prevails, oil is expected to fall to the lower band of the bullish channel located at 62.50. This level could be seen as a good point...

Gold trading around $5,021 with an upward bias above the 8/8 Murray, above the 21 SMA, and above the 200 EMA. The outlook is that XAU/USD could reach $5,100...

On the contrary, if crude oil falls below the 6/8 Murray, we could expect the bearish cycle to resume; hence, the price may return to the 4/8 Murray support levels...

If the metal consolidates below $4,930, the price could reach the 200 EMA around $4,846. Gold could even reach the support of the lower band of the uptrend channel around...

A breakout from the downtrend channel and consolidation above $4,965 will be seen as an opportunity to open long positions, with targets at $5,030, $5,100, and finally at the +1/8...

On the contrary, if there is a pullback towards $5,000, we could see it as an opportunity for short trades. So, we could sell with targets...

Gold is trading around $4,998 below the 21 SMA, showing exhaustion of bullish momentum. The price is likely to reach the 200 EMA around $4,827 and even the lower band...

Given that gold has reached 61.8%, the outlook remains negative, and gold is expected to return to levels of $4,500 and finally $4,375 around the 6/8 Murray in the coming...

Gold is trading around $5,067 above the 21 SMA and showing signs of exhaustion after reaching its weekly high around $5,120. This level coincided with the 61.8% zone, which suggests...