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Xauusdanaliz

XAU/USD tries to leave channel up Morning outlook - XAU/USD tries to leave channel up A release of the US employment data last Friday predictably stopped the gold from losing value against the buck. In result of the surge that was also strengthened by growing fears over the North Korean crisis, the pair has practically broke through the upper boundary of a dominant ascending channel. From a fundamental side, today the Dollar is not expected to have any news that could motivate it to start to recover. From a technical side, the further surge is obstructed by the updated weekly R1 at 1,339.42 and then by the monthly R1 at 1,348.36. In the meantime, the southern side has a barrier-free area up until the 55- and 100-hour SMAs that are located slightly above the weekly PP a 1,315.75. An average market sentiment point out on a rebound, as 62% of traders remain bearish on the given exchange rate.
FX_IDC:XAUUSD
by UnknownUnicorn890690
XAU/USD surges above 1,316.50Morning outlook - XAU/USD surges above 1,316.50 During the whole previous trading day, the yellow metal was continuing to appreciate against the US Dollar. The only barrier that managed to stop the surge was a combined resistance level formed by the monthly R2 at 1,315.30 and the weekly R3 at 1,316.51. On the one hand, today the buck should try to restore some of the lost positions. On the other hand, the bullion now has a new, solid support level, which it can use to try to reach a new target, such as the monthly R3 at 1,359.22 or a long-term ascending channel's upper boundary near 1.350.00. Even though the market sentiment remains mixed, the second option in the nearest future seems a more viable scenario. But in the meantime, there is also a need to take into account an effect from escalation of the North Korean crisis and a release of data on the US CB Consumer Confidence today at 14:00 GMT as the subsequent weekly releases.
FOREXCOM:XAUUSD
by UnknownUnicorn890690