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Gold Price Analysis: XAU/USD ends the week above the $1570/oz level

January 24, 2020 by admin

Bulls broke above 1570 on a daily closing basis.
Bulls will likely set their eyes on the 1580 and 1600 levels.

Gold daily chart

XAU/USD is trading in an uptrend above the main daily simple moving averages (SMAs). After failing near the 1600 figure earlier in the month, the metal has been consolidating near the $1560 per troy ounce.

Gold four-hour chart

Gold broke above the 1570 resistance on a daily basis. Bulls will likely set their eyes on the 1580 and 1600 levels. Support is seen at 1570 and 1563 levels.

Additional key levels

Source

EUR/USD Price Analysis: Euro ends the week below 1.1039 resistance

January 24, 2020 by admin

EUR/USD stays under heavy bearish pressure below the 1.1039 resistance. The downside move could reach the 1.0976 and 1.0953 levels. EUR/USD daily chart EUR/USD is trading in a weak bear trend below its main simple moving averages (SMAs) as the … [Continue reading]

European Monetary Union CFTC EUR NC Net Positions up to €-47K from previous €-48.2K

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Risk of AUD/USD dropping toward 0.65 on a 12-month view – Rabobank

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DXY has left behind the 200-day SMA and keeps pushing higher. The outlook on the dollar has now shifted to constructive. DXY is now testing the key 97.90 region, where coincide the 100-day SMA and a Fibo retracement of the 2017-2018 decline. The … [Continue reading]

When are the German/ Eurozone flash PMIs and how could they affect EUR/USD?

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Australia CPI preview: Headline inflation to rise 0.6% in Q4 – Westpac

January 23, 2020 by admin

The analysts at Westpac forecast Westpac a 0.6% rise in the Australian December quarter CPI lifting the annual pace to 1.8%yr from 1.7%yr. Key Quotes: “The December quarter is seasonally strong with the ABS projecting a seasonal factor of +0.1ppt. … [Continue reading]

Australia Commonwealth Bank Manufacturing PMI came in at 49.1, above forecasts (49) in January

January 23, 2020 by admin

US Dollar Index Price Analysis: DXY bulls nearing the 97.85 resistance

January 23, 2020 by admin

The inverse head-and-shoulders pattern is keeping the bullish bias intact. Upside targets can be located near 97.85 and 98.20 levels. DXY daily chart The US dollar index (DXY) is challenging the 200-day simple moving average (SMA) while trading … [Continue reading]

Russia Industrial Output came in at 2.1%, above expectations (1.4%) in December

January 23, 2020 by admin

Gold Price Analysis: XAU/USD ends the week above the $1570/oz level

Gold daily chart

Gold four-hour chart

Additional key levels

EUR/USD Price Analysis: Euro ends the week below 1.1039 resistance

European Monetary Union CFTC EUR NC Net Positions up to €-47K from previous €-48.2K

Risk of AUD/USD dropping toward 0.65 on a 12-month view – Rabobank

US Dollar Index Price Analysis: Looks firmer and now targets 98.00 and beyond

When are the German/ Eurozone flash PMIs and how could they affect EUR/USD?

Australia CPI preview: Headline inflation to rise 0.6% in Q4 – Westpac

Australia Commonwealth Bank Manufacturing PMI came in at 49.1, above forecasts (49) in January

US Dollar Index Price Analysis: DXY bulls nearing the 97.85 resistance

Russia Industrial Output came in at 2.1%, above expectations (1.4%) in December

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