Gold Price Forecast: $1,850 could be a tough nut to crack for XAUUSD bears – Confluence Detector Gold XAUUSD Commodities Confluences Fed
shows that the Gold Price is teasing the $1,855 support area, which is the convergence of the pivot point one-day S1 and the previous low four-hour.
sellers will then look out for the $1,845 demand zone, which is the intersection of the SMA5 one-day and pivot point one-month S1.On the upside, XAU bulls could face initial resistance at around $1,862 on buying resurgence. That level is the confluence of the Fibonacci 38.2% one-day and SMA10 four-hour. The previous day’s high of $1,870 and the previous month’s low of $1,872 will be next on the buyers’ radars.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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