Gold Price Analysis November 20

一昨日

Fundamental Analysis
Gold prices attracted some follow-through buying for the third consecutive day on Wednesday and rose to a one-and-a-half week high, around the $2,641-$2,642 region during the Asian session. Rising tensions between Russia and Ukraine continued to boost demand for traditional safe-haven assets, coupled with slowing US Dollar (USD) price action, acting as a bullish driver for the precious metal.

That said, overnight comments from Russian and US officials helped ease market concerns about the onset of an all-out nuclear war, which was evident in the generally positive tone in equity markets. Additionally, a healthy rise in US Treasury yields favored USD bulls and warranted some caution before positioning for any further upside moves in Gold prices.

Technical analysis
The uptrend is clearly shown in the time frames and the important resistance level is at 2660-2662. Today's trading plan is mainly waiting for BUY signals when there are retest beats. Pay attention to the retest price zones noted on the chart to have a good trading strategy for yourself. Those are Fibonacci zones and also psychological zones that the market is respecting. 2622-2613-2597 are the zones to pay attention to.

一昨日

トレード稼働中

strategy is in line with analysis

昨日

トレード終了: 利益確定目標に到達

price reacted at support zone 2622 with more than 40 pips

16 時間前

ノート

Gold flirts with eight-day highs above $2,650
Gold price flirts with eight-day highs above $2,650 in the Asian session on Thursday. The bright metal extends its gains for the fourth straight day, in the face of a minor US Dollar pullback. The focus now shifts toward the Fedspeak for fresh trading directives.