Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Gold back above $1220, Fed Chair Yellen speech in focus

  • XAU/USD is currently trading around $1220 mark.
     
  • It made intraday high at $1222 and low at $1219 levels.
     
  • Intraday bias remains neutral till the time pair holds keys resistance at $1222 marks.
     
  • A daily close above $1222 is necessary to turn the bias bullish.
     
  • On the top side, key resistances are seen around $1228, $1232 and $1247 levels.
     
  • Alternatively, a sustained break below $1208 will drag the parity down towards key support levels at $1202, $1195 and $1190 marks.
     
  • Later today, Yellen's remarks to the Economic Club of New York at mid-day on Tuesday represent the next key target for the gold.


We prefer to take long position in XAU/USD around $1215, stop loss $1207 and target $1222/ $1232 marks.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.