Gold Price Forecast: XAU/USD bulls remain poised to test $1,831 and $1,837 – Confluence Detector Gold XAUUSD Commodities Confluences Inflation
smashed on ‘sell the fact’ trading after the 7% rise in the US annualized inflation in December cemented a March Fed rate hike, which was almost priced in by the market. Despite the pullback in gold price, the upside bias remains intact, courtesy of a bullish technical setup on the daily chart.shows that the gold price needs to crack strong resistance at $1,826, the Fibonacci 23.6% one-day.
A firm break above the latter will open gates for a rally towards the pivot point one-day R3 at $1,845.The confluence of the SMA10 four-hour, pivot point one-day S1 and Fibonacci 61.8% one-day at $1,819 will be on the sellers’ minds. 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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