Gold Price Analysis: XAU/USD needs to crack $1,856 to unleash the upside – Confluence Detector
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 is showing that critical resistance awaits at $ 1,856, which is the convergence of the Fibonacci 38.2...
Source: forexcrunch.com