Thursday 20th July 2023: Technical Outlook and Review
The XAU/USD (Gold) chart currently demonstrates a bullish overall momentum, suggesting the potential for a bullish breakout of the 1st resistance level and a subsequent rise towards the 2nd resistance level.
Wednesday 19th July 2023: Technical Outlook and Review
The dollar index (DXY) chart is currently exhibiting a bullish momentum, suggesting that the price could potentially make a bullish continuation towards the 1st resistance. The intermediate support level is at 99.66 and is identified as a multi-swing low support. This level may halt any short-term downtrend.
Tuesday 18th July 2023: Technical Outlook and Review
The 1st support level is at 99.42. This is an overlap support and also a 100% Fibonacci Projection level. This suggests that the market has found buying interest at this price in the past, which could potentially cause a bounce upwards.
Monday 17th July 2023: Technical Outlook and Review
The 1st support level is at 99.42. This is an overlap support and also a 100% Fibonacci Projection level. This suggests that the market has found buying interest at this price in the past, which could potentially cause a bounce upwards.
Friday 14th July 2023: Technical Outlook and Review
The XAUUSD chart currently shows a neutral momentum, indicating that the price may fluctuate between the 1st resistance and 1st support level. The 1st support level is at 1953.82. This is an overlap support level which suggests that it might have a concentration of buyers, possibly leading to a price bounce if it reaches this point.
Thursday 13th July 2023: Technical Outlook and Review
On the downside, the 1st support level is found at 1952.62, serving as a pullback support, which could provide substantial stability to the price. Further down, the 2nd support level is located at 1931.62, identified as an overlap support that could potentially cushion any downward price movements.
Wednesday 12th July 2023: Technical Outlook and Review
The intermediate support level is found at 101.39 and is characterized as a pullback support. This level also aligns with a 127.20% Fibonacci extension and a 78.60% Fibonacci projection levels, enhancing its significance as a potential stabilization point in the event of a price decline.
Tuesday 11th July 2023: Technical Outlook and Review
The 1st support level is positioned at 1912.34 and is classified as an overlap support, offering considerable stability for the price. Should the price descend below this level, it may encounter another protective layer at the 2nd support, identified at 1900.86, a noteworthy swing low support.
Monday 10th July 2023: Mixed Performance in Asia-Pacific Markets as Investors Await Inflation Reports
Global Markets: News & Data: Markets Update: Asia-Pacific markets exhibited a […]
