Don’t waste your time – keep track of how NFP affects the US dollar!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
Warning! Old version of the browser!
Press one of the icons below to proceed to the official website of the developer and download the latest version of your browser.
Online Forex broker
Information is not investment advice
XAU/USD has been falling due to market optimism. Will it keep moving down?
First of all, the FDA approved the vaccine of Pfizer and BioNTech for emergency use. That’s why the market sentiment improved, and investors streamed their capital to riskier currencies and stocks. Elsewhere, the EU and the UK agreed to continue negotiating, giving a signal that the deal may be reached soon. The prospect for the Brexit agreement added to the risk-on sentiment as well. Even hopes for the additional US stimulus package and the massive USD selloff haven’t helped gold to rise.
XAU/USD is moving inside the descending channel. It is approaching the key support of the 200-day moving average of $1 810. Gold is unlikely to break it down for the first attempt. That’s why we can expect it will bounce off this level initially. If it manages to break it down, it may drop to the next support at the low of November 30 at $1 770. On the flip side, the move above the recent highs of $1 845 will drive XAU/USD to the 50-period moving average of $1 870, which it has failed to cross several times. In a nutshell, gold is stuck between two moving averages.
Despite the negative news and worrying headlines, we recommend traders to make mental reframing of the situation. This way, you can look at the market from a different perspective. Let’s observe how you can take advantage of the uncertainties and make the fundamentals work for you!
The US Federal Reserve may refrain from more aggressive interest rate hikes in March due to geopolitical risks after Russia's special operation in Ukraine…
Hello from the far 2022! FBS analysts have used some magic to travel to the future and brought you some hilarious predictions.
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
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
