Gold (XAU/USD): possible demand zone placed around $1245

Gold (XAU/USD): possible demand zone placed around $1245

Gold is hovering around a key area where buyers could appear to push higher the precious metal, according to our mid-term Fibonacci projections. At H4 chart, XAU/USD is trading above the 65% Fibonacci retracement level at which it found strong support and it’s looking now for catalyst that confirm a bottom is placed. If Gold manages to break above 1255.08, we could shift our focus towards the mid-term target around 1315.24 (-23.6%).

To invalidate that scenario, the yellow metal needs to break below 1231.69 in order to reach the 1214.20 in a first degree. However, RSI is trending higher and it could favor to the bulls’ force.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

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