Free Trial
USDCAD TECHS

Breaks to Fresh Lows

ASIA

Coming up in the Asia-Pac session on Friday:

US TSYS

Huge CPI Relief Rally Holds

AUDUSD TECHS

Building Bullish Undertones

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Bear Flag Breakout

GOLD TECHS
  • RES 4: $1765.5 - High Aug 25 and a key resistance
  • RES 3: $1729.2/35.1 - 50-day EMA / High Sep 12
  • RES 2: $1688.9/1707.1 - Low Sep 1 / High Sep 14
  • RES 1: $1654.0 - Low Sep 21 and a recent breakout level
  • PRICE: $1638.5 @ 07:17 BST Sep 26
  • SUP 1: $1626.9 - Intraday low
  • SUP 2: $1610.5 - 1.00 proj of the Jun 13 - Jul 21 - Aug 10 swing
  • SUP 3: $1569.1 - Low Apr 1 2020
  • SUP 4: $1563.9 - 1.236 proj of the Jun 13 - Jul 21 - Aug 10 swing

Gold traded lower Friday, breaking out of its recent range and in the process confirmed the bear flag formation evident on the daily chart. The break confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies are in a bear mode position, clearly highlighting current market sentiment. The focus is on $1610.5, a Fibonacci projection. Initial firm resistance is at $1688.0.

165 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: $1765.5 - High Aug 25 and a key resistance
  • RES 3: $1729.2/35.1 - 50-day EMA / High Sep 12
  • RES 2: $1688.9/1707.1 - Low Sep 1 / High Sep 14
  • RES 1: $1654.0 - Low Sep 21 and a recent breakout level
  • PRICE: $1638.5 @ 07:17 BST Sep 26
  • SUP 1: $1626.9 - Intraday low
  • SUP 2: $1610.5 - 1.00 proj of the Jun 13 - Jul 21 - Aug 10 swing
  • SUP 3: $1569.1 - Low Apr 1 2020
  • SUP 4: $1563.9 - 1.236 proj of the Jun 13 - Jul 21 - Aug 10 swing

Gold traded lower Friday, breaking out of its recent range and in the process confirmed the bear flag formation evident on the daily chart. The break confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies are in a bear mode position, clearly highlighting current market sentiment. The focus is on $1610.5, a Fibonacci projection. Initial firm resistance is at $1688.0.