This is a discussion on Weekly Outlook and Trading Forecast within the Forex Trading forums, part of the Trading Forum category; Gold prices surged after economic data fueled Fed pivot bets. XAU's rally, fueled partly by short covering, may end soon, ...
Gold prices surged after economic data fueled Fed pivot bets. XAU's rally, fueled partly by short covering, may end soon, especially if the Fed sends a stronger response to ardent investors.
The weekly price was bounced from 200 SMA at 1680 to above for the primary bullish trend to be resume if the price breaks 1814 resistance level to above with 1878 possible target to re-enter in the long term sotuation.
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The US Dollar finally got a break this week after persistent losses. But, this may be short-lived if GDP signals that uninspiring growth is ahead. What are the key DXY levels to watch next week?
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The euro had a volatile end to the week mainly driven by other currencies. Potentially sticky EU core CPI next week can support the euro but growth concerns weigh
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