Precious metals are trading higher today with gold breaking above the $1,800 psychological level. US dollar is the weakest among G10 currencies and it provides support for a range of commodities, including precious metals. Price broke above the upper limit of the Overbalance structure and 100-period EMA (H4 interval) in the $1,800 area, signalling that the ongoing upward correction may become a trend reversal. The next major resistance to watch can be found in the $1,845 area.
Tomorrow's FOMC minutes release at 7:00 pm BST can boost volatility on USD and therefore have an impact on gold as well.
Source: xStation5
BREAKING: NATGAS muted after almost in-line EIA data release 💡
Will the Fed minutes confirm a pause in further easing? 🔎
Daily summary: Wall Street tries to rebound 📈Amazon and Microsoft under pressure of Rotschild & Co Redburn
Cocoa tries to stabilize after autumn sell-off 📌
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
