Free Trial
EURUSD TECHS

Remains Bearish Inside Its Bear Channel

COLOMBIA

BanRep Rate Decision in 1 Hour

BANXICO

Rate Decision Due in Just Over an Hour

OPTIONS

Large Long-Dated Euribor Call Spread Features

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

Trades Below First Support

GOLD TECHS
  • RES 4: $1875 7 - 50.0% retracement of the Mar 8 - Jul 21 bear leg
  • RES 3: $1857.6 - High Jun 16
  • RES 2: $1829.8 - 38.2% retracement of the Mar 8 - Jul 21 bear leg
  • RES 1: $1782.6/1807.9 - 50-day EMA / High Aug 10 and bull trigger
  • PRICE: $1755.9 @ 07:16 BST Aug 19
  • SUP 1: $1751.9 - Intraday low
  • SUP 2: $1711.7/1681.0 - Low Jul 27
  • SUP 3: $1681.0 - Low Jul 21 and the bear trigger
  • SUP 4: $1676.9 - Low Mar 8 2021

Gold is trading lower, extending the pullback from last week’s high of $1807.9 (Aug 10). Recent gains saw price trade above trendline resistance drawn from the Mar 8 high. The break highlighted a potential reversal of the 5-month downtrend. However, the failure to follow through and the breach of support at $1754.4 Aug 3 low, signals a failed attempt at clearing the trendline. A deeper pullback would open $1711.7. Key resistance is $1807.9.

160 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: $1875 7 - 50.0% retracement of the Mar 8 - Jul 21 bear leg
  • RES 3: $1857.6 - High Jun 16
  • RES 2: $1829.8 - 38.2% retracement of the Mar 8 - Jul 21 bear leg
  • RES 1: $1782.6/1807.9 - 50-day EMA / High Aug 10 and bull trigger
  • PRICE: $1755.9 @ 07:16 BST Aug 19
  • SUP 1: $1751.9 - Intraday low
  • SUP 2: $1711.7/1681.0 - Low Jul 27
  • SUP 3: $1681.0 - Low Jul 21 and the bear trigger
  • SUP 4: $1676.9 - Low Mar 8 2021

Gold is trading lower, extending the pullback from last week’s high of $1807.9 (Aug 10). Recent gains saw price trade above trendline resistance drawn from the Mar 8 high. The break highlighted a potential reversal of the 5-month downtrend. However, the failure to follow through and the breach of support at $1754.4 Aug 3 low, signals a failed attempt at clearing the trendline. A deeper pullback would open $1711.7. Key resistance is $1807.9.