Start Trading Now

Your invested capital is at significant risk

XAU Trading Outlook

Thursday 24th November

XAU/USD came under pressure falling from $1708 as USD strengthened reaching $1677 lows. Now the price is coming up to test the $1700 level again with no clear break as yet. The more critical level to the topside is $1712 and there is a preference to sell below this with initial support at $1684 followed by $1667.

Wednesday 23rd November

XAU/USD broke $1700.00 to the topside and reached $1709 highs however early UK trading took this lower on USD strength. Initially it came down to test $1685 but as the north American traders came into play gold was pushed down lower to $1677. The near-term support is $1676 followed by $1667 and there is a preference to sell below the pivot point $1712.

Tuesday 22nd November

XAU/USD broke through the $16980- $1700 support in yesterdays trading coming down to $1667 lows. The short-term outlook is that the price will consolidate whilst the mid-term outlook is bullish. In the ST there is a preference to sell below $1700 if the level holds but on the breakout the price could move to $1713.

Monday 21st November

XAU/USD has fallen on USD strength this morning from $1723 moving through the initial support $1710-12. It now comes down to test the critical $1696 – 1700  zone. There is a preference to sell below the $1735 if the price retraces to towards that level.

Important note: These technical and research reports are provided to easy-forex as a subscriber of third party providers. They are provided for informative purposes only and in no way can they be considered as a recommendation by easy-forex to you to engage in any trade. Hence, easy-forex shall not be held responsible for any outcome of trading decisions, in regards with these reports or similar reports. You hereby acknowledge that using the information entailed in these reports is at your sole responsibility and you will have no claims with regards to these reports against easy-forex. If you do not agree to this, you are strongly advised not to use these reports.