Technical Analysis Of The Xau/usd
Highlights
FX return analysis
Gold hurtling towards 2013 lows
Fundamental focus: UK and Europe
BOJ to stand pat
Clarity needed from the Fed
FX return analysis
The USD was the star performer last week, gaining against all of its G10 counterparts. The dollar index broke above 84.10 - a key resistance level - to the highest level since mid-2010. Interestingly, the dollar pushed higher even though there were some soft economic data points from the US last week including weaker inflation and initial jobless claims. The key driver of the stronger buck appears to have been some hawkish comments from Fed speakers. San Francisco Fed speaker John Williams and Charles Plosser both said that QE could end by 2014. Although Williams and Plosser are not voting members of the Fed this year, their ...
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD made yesterday a pullback on the resistance at 1580 points.
The pair continues to move above the upper band of its medium term bearish channel (purple lines).
Indicators are globaly bearish.
We continue to advise short positions as far as 1580 points is resistance.
The breakout of 1560 points will give a new sell signal and will open the way towards 1540 points.
In case of return above 1580 points, we will wait the breakout of 1600 points to advise long positions.
See the previous analysis of the XAU/USD pair of June 27th, 2012
XAU/USD Analysis
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD felt yesterday below the support at 1580 points, offering a sell signal.
The pair continues to move above the upper band of its medium term bearish channel (purple lines).
Indicators are globaly bearish.
We continue to advise short positions as far as 1580 points is resistance.
The breakout of 1560 points will give a new sell signal and will open the way towards 1540 points.
In case of return above 1580 points, we will wait the breakout of 1600 points to advise long positions.
See the previous analysis of the XAU/USD pair of June 26th, 2012
XAU/USD Analysis
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD has validated yesterday a return above 1580 points.
The pair continues to move above the upper band of its medium term bearish channel (purple lines).
Indicators are mitigated.
We are neutral between 1580 and 1600 points.
We advise to wait an exit of this range to take position:
- Short below 1580 points. The breakout of 1560 points will give a new sell signal
- Long above 1600 points. The breakout of 1620 points will give a new buy signal.
See the previous analysis of the XAU/USD pair of June 25th, 2012
XAU/USD Analysis
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD found support last friday on 1560 points in extension.
The pair continues to move on the upper band of its medium term bearish channel (purple line).
Indicators are globaly bearish.
We continue to advise short positions as far as 1580 points is resistance.
The breakout of 1560 points will give a new sell signal and will open the way towards 1540 points.
In case of return above 1580 points, we will wait the breakout of 1600 points to advise long positions.
See the previous analysis of the XAU/USD pair of June 22th, 2012
XAU/USD Analysis
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD has started yesterday a bearish rallye and has validated the breakout of 1580 points, offering a sell signal.
The pair is back below the upper band of its medium term bearish channel (purple line).
Indicators are globaly bearish.
We continue to advise short positions as far as 1580 points is resistance.
The breakout of 1560 points will give a new sell signal and will open the way towards 1540 points.
In case of return above 1580 points, we will wait the breakout of 1600 points to advise long positions.
See the previous analysis of the XAU/USD pair of June 21th, 2012
XAU/USD Analysis
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD felt yesterday on 1600 points and continues to test this level.
The pair is still moving above the upper band of its medium term bearish channel (purple lines).
Indicators stay globaly bullish.
We continue to advise long positions as far as 1600 points is support.
A return above 1620 will comfort our bullish feeling.
The breakout of 1640 points will give a new buy signal and will open the way towards 1660 points.
In case of return below 1600, we will wait the breakout of 1580 points to advise short positions.
See the previous analysis of the XAU/USD pair of June 20th, 2012
XAU/USD Analysis
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD continues to move on 1620 points.
The pair is now far from the upper band of its medium term bearish channel (purple lines).
All indicators are bullish.
We continue to advise long positions as far as 1600 points is support.
The breakout of 1640 points will give a new buy signal and will open the way towards 1660 points.
In case of return below 1600, we will wait the breakout of 1580 points to advise short positions.
See the previous analysis of the XAU/USD pair of June 19th, 2012
XAU/USD Analysis
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD continues to move on 1620 points.
The pair is now far from the upper band of its medium term bearish channel (purple lines).
All indicators are bullish.
We continue to advise long positions as far as 1600 points is support.
The breakout of 1640 points will give a new buy signal and will open the way towards 1660 points.
In case of return below 1600, we will wait the breakout of 1580 points to advise short positions.
See the previous analysis of the XAU/USD pair of June 18th, 2012
XAU/USD Analysis