The yellow metal retreated after scoring huge gains on Thursday. How to deal with the aftermath is, however, rather simple.
The yellow metal continued to score gains on Thursday after the pause of Wednesday. During the morning hours the bullion already passed the weekly R1 at 1,213.16
The yellow metal remained rather unchanged during Wednesday's early hours. As the commodity price failed more than once to pass the resistance put up by the weekly R1, which is located at 1,213.16, it is most likely that
During the early hours of Tuesday's trading session the yellow metal continued its surge and broke through the weekly PP, which is located at 1,196.86.
After the rebound from the support cluster near the 1,185 mark, the yellow metal surged. However, the surge was short lived, and a reversal of the move has occurred.
As it was forecasted, the bullion fell to the support cluster near the 1,185 mark. However, that did not make the future movements unpredictable.
On Thursday morning the yellow metal's price was trading near the weekly S1, which is located at 1,197.37. The support level was previously broken
The yellow metal broke out of the medium term ascending channel pattern on Wednesday morning.
During the early hours of Tuesday's trading session the yellow metal once more hit the resistance cluster located near the 1,220 mark.
The yellow metal continued the Friday's surge in the early hours of Monday's trading session. However, the bullion encountered resistance just below the 1,220 mark and began a retreat.
Following an exit from the channel up pattern that led Gold out of its senior channel, XAU/USD inched up again and it appears that the bottom boundary of the junior broken channel will be up for tests now.
Following two consecutive volatile sessions, EUR/USD acted according to plan and did not manage to weigh below the 55-day SMA of 1.0616.
After reaching a resistance cluster near 1,219 mark the yellow metal slightly declined and reached as low as 1,211. However,
As uncertainty increases, the more the yellow metal surges. On Tuesday the bullion was above the 1,210 level, and it showed no sign of stopping.
Gold continued to surge on Monday, as it had found support on Friday. The bullion was set to climb to the 1,211 mark soon
The yellow metal had retreated below the 1,200 mark on Friday morning. However, all clues indicate that that is not for long.
Just like most of the financial instruments, which are traded against the US Dollar, the yellow metal surged on Thursday.
Although the yellow metal already met with the medium term resistance on Tuesday, it still managed to rebound and continue its way upward.
The yellow metal is still dictated by the strength of the US Dollar, which continued to retreat on early Tuesday morning. However, that stopped,
After the retreat, which occurred during Friday's trading session, the yellow metal is regaining its strength on Monday. That occurred due to a simple encounter
The yellow metal was in a retreat on Friday morning, as the bullion encountered resistance during late hours of Thursday's trading session.
The yellow metal jumped on Thursday morning and almost reached the 1,180 mark. However, before
Gold opened Wednesday's session in the green zone, attacking the cluster of resistances at 1,185.12/1,168.04.
Gold trading opened on Tuesday, following a lack of price change on Monday, caused by a banking holiday in the US.