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
25 August 2016
Markets remain contained; overall sentiment verges to negative...
24 August 2016
Stronger data lift spirits, but gains in check ahead of Yellen...
23 August 2016
Dollar weighed by wait-and-see mood ahead of Yellen speech...
22 August 2016
USD enjoys renewed support after policymakers’ comments...
19 August 2016
Dollar takes a breather as investors await Jackson Hole summit...
18 August 2016
USD at 7-week lows on July Fed Minutes...