Page 42 - Pivot Points News Today

Gold: Key levels to watch Technically, the yellow metal’s ability to stay past 61.8% Fibonacci retracement on the monthly chart, around $1,889, propels the bulls to eye 100-SMA on one day (1D), near $1,898 offers as an immediate target ahead of the $1,900 round-figure. However, Pivot Point one-month (M1) Resistance 1, coupled with the monthly peak surrounding $1,907 lures the gold buyers for now while November’s top near $1,965 can lure the bullion buyers afterward. Meanwhile, a downside br...

Gold (XAU/USD) is holding the higher amidst persistent downbeat mood seen around the US dollar, as the optimism over an imminent Brexit deal dents

Dec 22, 2020 14:17 GMTFXStreet News The panic attack that markets suffered after Britain announced the discovery of the new covid strain seems to have faded away, allowing for some calm. Gold has also stabilized, consolidating around familiar levels. The effect of the US fiscal stimulus deal are mostly priced, and speculation begins about further support from the Federal Reserve and Uncle Sam.  How is XAU/USD after the whipsaw on the graphs? The Technical Confluences Indicator is showing tha...

12/21/2020 6:29:05 AM GMT | By Dhwani Mehta Gold (XAU/USD) has cleared the $1900 level on Monday, surging 1% to reach over one-week highs. The extension to the last week’s rally comes on the back of a much-awaited US fiscal stimulus deal. US Congress reached an agreement on a $900 billion COVID-19 relief aid package on Sunday, with votes likely on Monday. Gold also benefited from the coronavirus-induced fresh lockdowns imposed globally, defying the stre...

12/21/2020 10:57:35 AM GMT | By Yohay Elam Gold has fallen off the highs as panic over the new covid strain boosted the safe-haven dollar – weakening everything else. Earlier, the precious metal advanced after Republicans and Democrats announced an agreement on a stimulus deal.  How is XAU/USD after the whipsaw on the charts? The Technical Confluences Indicator is showing that gold faces resistance at $ 1,878, which is the convergence of the previous...

Dec 17, 2020 04:47 GMTFXStreet News Gold (XAU/USD) continues its advance and sits at weekly tops near $1870, cheering the progress on a $900 billion covid relief aid package. Congressional negotiators are “closing in on” the stimulus package, having discussed the contents of the package while setting aside the key issues of contention. Further, the upbeat market mood amid hopes for a Brexit deal and dovish Fed weighs on the safe-haven US dollar, underpinning the sentiment around gold ahead ...

12/17/2020 3:14:44 PM GMT | By Yohay Elam Gold has been shooting higher after the Federal Reserve opened the door to more money-printing – even if not at the current juncture. Moreover, US fiscal stimulus talks are progressing with growing chances that an accord is struck within hours. The prospects of more funds flowing from Washington have boosted the precious metal. How is XAU/USD positioned on the charts?  The Technical Confluences Indicator is s...

Dec 16, 2020 05:27 GMTFXStreet News As the US Congress leaders make progress on talks over a $1 trillion covid aid package, markets eye an imminent stimulus deal, knocking off the US dollar further south. Expectations of additional funds are boosting the inflation-hedge Gold (XAU/USD), as it extends its break above the $1850 level. The coronavirus vaccine optimism also collaborates with the dollar’s weakness, offering extra zest to the XAU bulls. However, it remains to be seen if the metal ex...

Dec 16, 2020 19:17 GMTFXStreet News Gold has been edging higher amid growing hopes that Democrats and Republicans are nearing a stimulus bill. The latest reports suggest that the parties have set aside the most contentious topics and are ready to forge an accord worth some $900 billion. The funds would boost the precious metal. The Federal Reserve is also in focus and any help would also send XAU/USD higher. How is it positioned on the technical charts?  The Technical Confluences Indicator i...

Dec 15, 2020 05:22 GMTFXStreet News Gold (XAU/USD) attempts another bounce on Tuesday, although remains within the familiar rage of $1820-$1850, as the focus now shifts towards Wednesday’s FOMC decision.   Gold finds its feet, benefiting from the downbeat market mood, as the growth in coronavirus infections and fresh lockdowns offset the optimism driven by the vaccine inoculations. Meanwhile, increased odds of about $1 trillion covid relief package likely to be reached before the X-mas/ New...