XAUUSD sticks to range play near $1,850 ahead of Powell – Confluence Detector

Gold Price keeps moving back and forth in a familiar range near $1,850. Risk tone remains in a better spot as investors take a pause after the sell-off. Powell’s testimony holds the key for the next directional move in XAUUSD. Risk flows and the US dollar weakness remain in play so far this week, as … Read more

XAUUSD needs to crack $1,842 to unleash further upside – Confluence Detector

Gold Price consolidates the Fed-led rebound amid an upbeat mood. Fed’s resolve to fight inflation calm nerves, 10-year yields tumble. Will XAUUSD find acceptance above critical resistance at $1,842? Fed Chair Jerome Powell presented a 75 bps rate hike at its June monetary policy meeting, offering the much-needed comfort to the market. Longer-dated yields tumbled … Read more

XAUUSD eyes $1,845 and $1,842 on aggressive Fed tightening bets – Confluence Detector

Gold Price slips from five-week highs as Fed set to hike rate aggressively. The US dollar, yields soar on the Fed expectations and risk-off flows. XAUUSD remains exposed to more downside ahead of the Fed decision. Gold Price is correcting sharply from five-week peaks of $1,879, reversing most of Friday’s strong rally. The inverse correlation … Read more

XAUUSD vulnerable amid firmer USD, key levels to watch – Confluence Detector

Gold Price is extending a two-day bearish momentum on Friday. The US dollar reigns supreme as risk-aversion remains at full steam. XAUUSD appears vulnerable, with all eyes on next week’s Fed decision. Gold price is trading with size-able losses on the final trading day of the week, as investors continue to seek refuge in the … Read more

XAUUSD range play to extend around $1,850 ahead of US inflation – Confluence Detector

Gold Price is reversing the previous rebound amid risk-off markets. The US dollar gains amid risk-aversion and rebounding Treasury yields. Global growth concerns to put a floor under XAUUSD, as US inflation is awaited. Gold Price is reversing a part of the previous recovery gains, in light of a notable US dollar demand alongside rebounding … Read more

XAUUSD stages a comeback, key levels to watch – Confluence Detector

Gold Price is heading back towards $1900 amid mixed markets. US dollar recovers ground but the correction doesn’t seem to be over yet. XAUUSD’s path of least resistance appears to the upside, for now. Gold Price is staging a solid comeback after finding strong support near the $1,840 region over the past two trading days. … Read more