GOLD: after-breakout consolidation

GOLD: after-breakout consolidation

2020-07-14 • Updated

Fundamentally, we have all the factors pushing the gold price in the mid-term. There are infections out of control in the US – and that is not going to be sorted sooner than weeks from now. We have the US-China and the US-EU trade relations that are as complicated. Together, these factors are likely to bring the price of gold up to $1 850 by the middle of August.

Technically, however, gold is going through a phase of consolidation. It did break the mark of $1 800 last week, and now is in a rebound. Lower highs and horizontally stable lows suggest that bulls are just waiting for their turn to take over. Clear upward resistance is pointing higher. Therefore, expect some more sideways movement in the immediate short-term, and a continuation of the uptrend as the next stage.


                                                                                                    LOG IN


Trade ideas for March 28 - April 1
Trade ideas for March 28 - April 1

Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!

Latest news

UK: No Longer a Leading Economy
UK: No Longer a Leading Economy

The current situation is terrible, and the future is worse for the United Kingdom. Will the British pound withstand the challenges that await the UK economy, or will it collapse?

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera