On Friday we said: “Gold is in a consolidation phase, the price has no clear direction but holds pretty well given the current USD strength. Is this resiliency to the USD a bullish sign? We have a minor support at 1193$, if broken the price could head easily to 1183$ major key support of the 1180$ - 1222$ mid-term range. To the upside, 1200$ would be the trend shifting level from bearish to bullish. Our stance for the day is neutral.
Forex Technical Analysis
04 May 2016
USD recovers ground but Yen holds tight...
03 May 2016
RBA cuts its cash rate by 25basis point; Aussie declines...
02 May 2016
Yen soars higher as further policy intervention seen ineffective...
29 April 2016
Dollar stays under pressure as GDP disappoints...
28 April 2016
Fed & BoJ deliver no changes; Yen garners support...
27 April 2016
Aussie dollar tumbles lower as poor CPI ignite rate cut expectations...