Gold Price Forecast: XAU/USD bears keep $1,905 and US inflation on watch – Confluence Detector - FXStreet

Gold Price Forecast: XAU/USD bears keep $1,905 and US inflation on watch – Confluence Detector  FXStreet

source https://news.google.com/rss/articles/CBMihQFodHRwczovL3d3dy5meHN0cmVldC5jb20vbmV3cy9nb2xkLXByaWNlLWZvcmVjYXN0LXhhdS11c2QtYmVhcnMta2VlcC0xLTkwNS1hbmQtdXMtaW5mbGF0aW9uLW9uLXdhdGNoLWNvbmZsdWVuY2UtZGV0ZWN0b3ItMjAyMzA4MTAwNjMy0gGJAWh0dHBzOi8vd3d3LmZ4c3RyZWV0LmNvbS9hbXAvbmV3cy9nb2xkLXByaWNlLWZvcmVjYXN0LXhhdS11c2QtYmVhcnMta2VlcC0xLTkwNS1hbmQtdXMtaW5mbGF0aW9uLW9uLXdhdGNoLWNvbmZsdWVuY2UtZGV0ZWN0b3ItMjAyMzA4MTAwNjMy?oc=5

Gold, Silver Forecast: It’s Now or Never for XAU/USD, XAG/USD - DailyFX

Gold, Silver Forecast: It’s Now or Never for XAU/USD, XAG/USD  DailyFX

source https://news.google.com/rss/articles/CBMiZWh0dHBzOi8vd3d3LmRhaWx5ZnguY29tL25ld3MvZ29sZC1zaWx2ZXItZm9yZWNhc3QtaXQtcy1ub3ctb3ItbmV2ZXItZm9yLXhhdS11c2QteGFnLXVzZC0yMDIzMDgxMy5odG1s0gFpaHR0cHM6Ly93d3cuZGFpbHlmeC5jb20vbmV3cy9nb2xkLXNpbHZlci1mb3JlY2FzdC1pdC1zLW5vdy1vci1uZXZlci1mb3IteGF1LXVzZC14YWctdXNkLTIwMjMwODEzLmh0bWwvYW1w?oc=5

Gold Price Forecast: XAU/USD bears keep $1,905 and US inflation on watch – Confluence Detector - FXStreet

Gold Price Forecast: XAU/USD bears keep $1,905 and US inflation on watch – Confluence Detector  FXStreet

source https://news.google.com/rss/articles/CBMihQFodHRwczovL3d3dy5meHN0cmVldC5jb20vbmV3cy9nb2xkLXByaWNlLWZvcmVjYXN0LXhhdS11c2QtYmVhcnMta2VlcC0xLTkwNS1hbmQtdXMtaW5mbGF0aW9uLW9uLXdhdGNoLWNvbmZsdWVuY2UtZGV0ZWN0b3ItMjAyMzA4MTAwNjMy0gGJAWh0dHBzOi8vd3d3LmZ4c3RyZWV0LmNvbS9hbXAvbmV3cy9nb2xkLXByaWNlLWZvcmVjYXN0LXhhdS11c2QtYmVhcnMta2VlcC0xLTkwNS1hbmQtdXMtaW5mbGF0aW9uLW9uLXdhdGNoLWNvbmZsdWVuY2UtZGV0ZWN0b3ItMjAyMzA4MTAwNjMy?oc=5

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GOLD → The market is ready to continue its decline

Gold OANDA:XAUUSD

RLinda

XAUUSD continues to form a descending price channel. On Thursday a candlestick pattern is formed indicating the imbalance of forces in favor of sellers.

This week is published quite a lot of interesting news. It is worth paying attention to:
15.08

• 1) Core Retail Sales (no data, the previous ones were bearish)
  
• 2) Retail Sales (expected to strengthen)
  

16.08

• 1) CPI (expected to decline)
  
• 2) FOMC Meeting Minutes
  

17.08

• 1) Initial Jobless Claims (no data, previous ones were bearish)
  
• 2) Fed MI
  

In general, bad indicators for the dollar may strengthen the interest in gold, but again, we should not forget that news is a complex trading instrument.

From a technical analysis perspective, gold is approaching the strong 1902-1900 liquidity area.
Last week's session is closing very close to local lows, which can be interpreted as the market's willingness to continue to gain momentum for further declines. A strong bearish trend dominates the market.
Local support: 1912.5, if this line is broken, an impulse to 1900 is possible, but a rebound should be expected from the mentioned support, most likely a rebound may follow during the news.

Support levels: 1912, 1902, 1900
Resistance levels: 1915, 1920, 1935
Gold continues to decline, and most likely, from the opening of the new week the price may continue to fall, but in the second half there may be a rebound and local contrend strengthening.

Regards R. Linda!
Originally posted here: https://ift.tt/Jtdkyco