Online Forex broker
2021-06-03 • Updated
4H Chart
Daily Chart
Gold regained above $1900/Oz during yesterday’s trading, reaching as high as $1910 but it failed to sustain these gains during the Asian session today, leading to another leg lower back below $1900/Oz. Such failure to stay above $1900 and to break that $1910 barrier keeps our short-term bearish outlook unchanged. We don't recommend any long positions yet as the technical indicators are still overbought. Therefore, we prefer to wait for further declines over the next few days before thinking about adding new long positions, while we maintain our medium-term long positions that we issued back in April at $1725 and $1715/Oz for now, with a Stop Loss to $1835 for now.
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 1874.73 |
1889.35 |
1898.86 |
1903.97 |
1913.48 |
1918.59 |
1933.21 |
Gold prices tumbled during the first trading day of the week declining to as low as 1844 USD/Oz. However, it was able to trim these losses and closed the day around 1866 USD/Oz.
Gold price failed to break above $1900 last week and slid down. Read the article to see the technical outlook for the price!
Gold managed to rally yesterday on the back of the US inflation data which posted the highest reading since the 2008 financial crisis,
These days, investors’ attention is on Microsoft ahead of the company’s Windows 11 event on June 24.
EUR/USD found support at 1.1845 and is currently trading just below the 61.8% Fibonacci retracement of the March-May advance at 1.1920.
NZD/USD has returned above the 50-week MA at 0…
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