Online Forex broker
2021-06-07 • Updated
H4 Chart
Daily Chart
Gold managed to bounce back right after the US Jobs Report on Friday and closed the week near the $1900 resistance. Gold continues to benefit from inflation expectations. Yet, such rebound is unlikely to be sustainable. The technical indicators still suggesting another leg lower in the coming days. The downside retracement may target 1860 and 1850 USD/Oz where we will reassess our medium-term long positions that were issued back in April, while we maintain our stop loss at 1835 for now.
|
S3 |
S2 |
S1 |
Pivot |
R1 |
R2 |
R3 |
|
1801.15 |
1841.25 |
1866.42 |
1881.35 |
1906.52 |
1921.45 |
1961.55 |
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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