Gold Price Forecast: XAU/USD bears lurk behind $1,790 amid holiday season – Confluence Detector – by anilpanchal7 Gold XAUUSD Confluences Fed Macroeconomics
That said, optimism surrounding China’s pro-growth policies and the Sino-American tussles contradict of late, whichy in turn tests Gold traders. However, a lack of momentum in the bond markets seems to restrict immediate XAU/USD moves as traders await the US Core Personal Consumption Expenditure -The cautious sentiment could also be linked to the recently firmer US GDP and CB Consumer Confidence figures that renewed hawkish Fed bets.
Following that, Fibonacci 23.6% on weekly and middle band of the Bollinger on the 1D, around $1,785, could act as an extra downside filter. On the flip side, a convergence of the Fibonacci 38.2% on daily and 200-HMA could test the Gold buyers near $1,800. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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