Don’t waste your time – keep track of how NFP affects the US dollar!

Data Collection Notice

We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.

facebook logo with graphic

Join Us on Facebook

Stay on top of company updates, trading news, and so much more!

Thanks, I already follow your page!
forex book graphic

Beginner Forex Book

Your ultimate guide through the world of trading.

Get Forex Book

Check Your Inbox!

In our email, you will find the Forex 101 book. Just tap the button to get it!

FBS Mobile Personal Area

market's logo FREE - On the App Store

Get

Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

76.5% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

Gold: a trend change coming?

Gold: a trend change coming?

Information is not investment advice

We've been talking a lot about the long-term downtrend of gold that's been the case since July 2020. Frequently, the price goes above and below that channel but then inevitably gets back into it. Since the end of 2020, that channel's upside has been mostly coinciding with the 100-MA. Now, golf is up there testing 100-MA below $1,800. Will it break the trend then?

First, even if it does, the trend may still stay valid just like it's been before: 80% of the time, the price was within the channel, but 20% still saw it deviate from the trend. Therefore, what we see now is just a possible breakout - whether it'll be a true trend change, only time will show: fo that, the changing configuration of the Moving Averages will serve as an indicator; so far, they're all aligned in a downward formation.

Second, gold may go as high as 200-MA at $1,850 just as it did twice previously. That all will not be an impediment for it to get back down into the channel: whatever the bullish breakaway is, it won't change the trend unless it goes beyond the resistance of the 200-MA at $1,850. 

Lastly, observe an interesting thing: there is a double top at $1,955, and there is a double bottom at $1,680. The gold price failed to cross either. That suggests a possibility that in the coming months, it'll trade between the two revolving around the core channel of $1,800-1,850. Let's watch it!

XAUUSDDaily.png

                                                                                           LOG IN

Similar

Popular

Gold isn't saving investors from inflation

Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?

Choose your payment system

Feel the Team Spirit

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later