Gold

(Last Updated October 23, 2020)

Welcome to the news page for Gold (XAUUSD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

On Gold, we don’t see a clear trend until the 90 day basis, where we see a clear uptrend.

XAUUSD Moving Averages

The moving averages on XAUUSD summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 50 are bullish, implying a upward trend, aside from a fall about 7 weeks prior. Moreover, it should also be noted that the 50 SMA just turned bearish today.

Below is a chart showing XAUUSD’s price with its moving averages.

The View From the Weekly Timeframe

At the moment, XAUUSD’s price is up $6.73 (0.35%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XAUUSD. Given that we see an uptrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The weekly chart below shows XAUUSD’s price action over the past year.