The XAU/USD chart is currently showing bearish momentum, with potential for a continuation towards the first support level at 1948, which is an overlap support level. If prices were to drop further, they could reach the second support level at 1881, which is also an overlap support level and coincides with the 61.80% Fibonacci retracement level.
Friday 24th March 2023: Technical Outlook and Review
The XAU/USD chart is currently showing a bearish momentum. Price could potentially make a bearish reaction off the first resistance level at 2007 and drop towards the first support level at 1957. This support level is an overlap support and has held prices up in the past.
European Daylight Saving : Updated Trading Schedule 2023
Please find our updated Trading schedule as Europe will enter Daylight Saving Time on Sunday, the 26th of March, 2023.
While trading for most products will remain unaffected, there will be a change in the trading hours of some products.
Thursday 23rd March 2023: Technical Outlook and Review
The XAU/USD chart shows a bullish momentum, and price could potentially continue to rise towards the 1st resistance level at 2007.00, which is a swing high resistance level.
The 1st support level at 1957.00 is a strong overlap support level, which could provide a bounce if price were to drop.
Wednesday 22nd March 2023: Technical Outlook and Review
Gold could potentially make a bullish bounce off the first support level at $1933 and head towards the first resistance level at $1957. The $1933 level is an overlap support, coinciding with the 38.20% Fibonacci retracement, which could act as a strong support level.