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Commodities

Gold Price Analysis: XAU/USD remains caught between key DMAs in front of Fed week

Gold (XAU/USD) resumed the bearish momentum of its following a brief recovery from multi-month lows sub-1dolar1 1800 in the last week.

The sellers returned following the metallic faced rejection at the 50-daily shifting typical (DMA), now at $1875.

On Wednesday, gold fell pretty much as 1 % to near the $1825 region and invested the remainder of the week meandering close to the latter, with the upside tries capped by the 21-DMA of $1841.

Gold Price Chart: Daily

XAU/USD’s daily chart definitely shows that the price proceeds to oscillate in a determined range. Acceptance above the 50-DMA is essential to reviving the recovery momentum from four month troughs of $1765.

Meanwhile, the 200-DMA assistance during $1809 is the level to beat for the bears. The 14-day Relative Strength Index (RSI) settled the week during 47.01, keeping the odds for extra downside alive.

Additionally, a failure to deliver a weekly closing above the vital short-term hurdle of 21 DMA, also implies that more declines could be in the offing.

Nonetheless, the Fed’s finalized monetary policy decision of this season and a probable US fiscal stimulus deal could have a big effect on the gold price activity within the week ahead.

Gold Additional levels
XAU/USD
OVERVIEW
Today last price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Today daily open 1839.34

TRENDS
Everyday SMA20 1838.62
Everyday SMA50 1874.97
Everyday SMA100 1910.26
Day SMA200 1809.34

LEVELS
Earlier Daily High 1847.78
Earlier Daily Low 1824.16
Previous Weekly High 1875.34
Earlier Weekly Low 1822.22
Previous Monthly High 1965.58
Earlier Monthly Low 1764.6
Day Fibonacci 38.2% 1838.76
Daily Fibonacci 61.8% 1833.18
Everyday Pivot Point S1 1826.41
Day Pivot Point S2 1813.47
Daily Pivot Point S3 1802.79
Everyday Pivot Point R1 1850.03
Everyday Pivot Point R2 1860.71
Day Pivot Point R3 1873.65

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