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XAU/USD prices recede with eyes on $1,789

From fxstreet.com

Gold prices ease from one-week top to near $1,785 amid the early Tuesday morning in Asia. In doing so, the bullion steps back ahead of the monthly top, flashed Wednesday, near $1,789 amid bullish MACD. Considering the yellow metal’s ability to stay positive since mid-June, as portrayed by an ascending trend line, also trade beyond 200-bar SMA, not to forget MACD signals, buyers are likely to keep the helm. However, $1,789 horizontal resistance might offer a place to pull back, if at all prices remain firm beyond $1,785. Should the optimists refresh the monthly high, an upward sloping trend line from June 24, ... (full story)

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  • Category: Technical Analysis