Monday, July 30, 2018

GOLD - 31 July 2018


Fundamental Highlights

The XAU/USD pair is struggling to make a decisive move in either direction on Monday and this morning as it holds above the $1220 level. Despite the Dollar's correction yesterday, Gold did not show any kind of strength as investors await this week's central bank decision.

Technical Analysis

Gold entered into a consolidation mode where the price is hovering around the $1222 level. Momentum is showing strength but the price is not holding firm to it. A surge in the price will occur if the upper trend line is broken to the upside.

Support: 1222.20 1217
Resistance: 1228.5 1235

Chart (H1)