HomeContributorsTechnical AnalysisXAU/USD Outlook: Dips To Provide Better Buying Opportunities $1800 Support Expected To...

XAU/USD Outlook: Dips To Provide Better Buying Opportunities $1800 Support Expected To Hold

Spot gold eases on Friday morning after larger bulls broke above pivotal 200DMA ($1826) but Thursday’s Doji candle signaled indecision.

Dips are likely to provide better buying opportunities, as near-term structure is bullish, and the yellow metal remains attractive for investors as US central bank will keep its accommodative policy to support economic recovery.

Also, the view that global economy have peaked and strong post-pandemic activity is likely to take a breather, adds to positive signals for the metal.

Gold is on track for the fourth straight week of gains that supports bullish outlook, with dips to ideally find footstep at 1.1813/09 zone (broken Fibo 38.2% of $1916/$1750 / rising 10DMA) and extended downticks to stay above psychological $1800 support.

Res: 1813, 1828, 1833, 1852.
Sup: 1820, 1813, 1809, 1800.

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Featured Analysis

Learn Forex Trading