XAU/USD Technical Commentaries

AUDUSD Nears Trendline, USDCAD Support Closer to 9900

IN GENERAL - Work down from larger degrees of trend. Markets (crude, copper, equities especially small caps, and commodity FX) are on the way down after forming multiyear topping patterns. Many of these topping patterns take the form of head and shoulders tops. Strength should be sold.

By Jamie Saettele | May 11 | DailyFX

FUNDAMENTAL UPDATE: What to do when the markets aren't trending?

In recent months trading some of the major pairs has been a frustrating business. For those of who love to trade trends and breakouts they have been fairly non-existent, especially for EURUSD and GBPUSD.

By Kathleen Brooks | Mar 13 | Forex.com

Gold Respects Channel Support; Trading Toward 1800

Since breaking the declining trendline seen in the daily chart, gold (XAU/USD) has rallied to the first target/resistance level near 1760

By Fan Yang, CMT | Feb 08 | FX Times

Gold Long Term Objective Near 1700

Gold has soared to a new high and focus is on the long term (multiyear) trendline, which is at 1675 this week. The line increases about 5 dollars a week. Former resistance at 1574.30 and 1559.30 is now support. A traditional measuring technique reveals an objective at 1693.30 (adding width of consolidation to breakout level).

By Jamie Saettele | Jul 15 | DailyFX

Gold 1559.30 Defines the Trend

Gold has reversed sharply but a bearish outcome remains possible as long as price is below 1559.30. It is worth considering a count in which the rally from 1463.50 completes a truncated 5th wave (ending below 3rd wave high). The implications are for a drop to at least 1463.50 over the next few weeks. The decline from 1559.

By Jamie Saettele | Jul 08 | DailyFX

Gold Looks Poised to Test Recent Highs

Until gold breaks one way or the other, there is very little to say about the metal - "It remains possible that the rally in gold is corrective but price has exceeded the 61.8% retracement so respect potential for one more high to complete the 5 wave advance from the January low. A 5 wave decline from 1555 is required in order to suggest that the larger trend is down.

By Jamie Saettele | Jun 20 | DailyFX

Gold Surges – Focus Still Higher

It remains possible that the rally in gold is corrective but price has exceeded the 61.8% retracement and extended from its 20 day average so respect potential for one more high to complete the 5 wave advance from the January low. A 5 wave decline from 1555 is required in order to suggest that the larger trend is down.

By Jamie Saettele | Jun 15 | DailyFX

Gold - Forex Correlations Reaching Record Levels for Commodity Currencies

The following table includes the correlation between gold and the most popular currency pairs over various timeframes. A value close to +1 indicates a strong positive relationship between gold and the pair, while a value close to -1 indicates a strong negative relationship.

By David Liu | May 06, 2011 | DailyFX

Forex Notes 5.4.2011: Gold, Silver, AUD/USD

Gold (XAU/USD) - Gold is staying above the 1528.75 correction low. It continues to lose bullish momentum, but has not shown bearish momentum, hovering above the 50% retracement of the rally from 1495 to 1575. If the current correction is not over, it can extend lower towards 1518-1520 pivot near 61.8% retracement.

By Fan Yang | May 04, 2011 | FX Times

Gold to Hit $2500 in 2012

Spot gold hit a high of $1,505.40 an ounce and was bid at $1,501.10 an ounce at 1403 GMT, against $1,493.90 late in New York on Tuesday. U.S. gold futures for June delivery rose $6.70 an ounce to $1,501.80.

By Shayne Heffernan | Apr 20, 2011 | LiveTradingNews

Gold Rising to US$1,600

Industry expert sees Gold rising to US$1,600 oz by year end. The rally in the Gold price has further to go, says a leading precious metals consultancy, which predicts waves of investor buying will take Gold prices to as much as $1,600 oz by the end of the year.

By Paul A. Ebeling, Jnr. | Apr 14, 2011 | LiveTradingNews

Trading Forecast Gold

Gold closed lower due to profit taking on Friday as it consolidates some of this year's rally. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this year's rally into uncharted territory, upside targets will be hard to project.

Mar 28, 2011 | HY Markets