OctaFX | OctaFX Forex Broker
Open trading account
Back

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

  • 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

 

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

EUR/USD is trading in a weak bear trend below its main simple moving averages (SMAs) as the market is breaking down through a bullish trendline which started i
Read more Previous

Coronavirus: Death toll rises to 56, transmissibility increased, markets set to open lower

The official death toll from the coronavirus has risen to 56, with around 2,000 affected by the disease. Most of the diagnosed cases are in China but
Read more Next
Start livechat