Trading news

Geopolitical tensions/ COVID-19 wave 2 concerns, will keep Gold strong- GOLD Market Outlook – 22/05/2020

Rising geopolitical tensions and jobless claims topping 2 million for the 9th straight week did little to lift gold prices, ending yesterday’s session at $1725.55, while concerns over a second wave of Covid-19 infections along with further escalation in U.S-China relationships should keep the yellow metal well supported. Looking ahead, the catalyst needed for higher prints is an hourly close above our resistance level at $1730 which coincides with the 200-period SMA.

Support: 1717.50 / 1708.56 / 1700
Resistance: 1730 / 1738 / 1750 / 1764

SquaredFinancial Daily Market Outlook

TRADE NOW

SquaredFinancial Review

Friday, 22 May, 2020 / 7:35

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://www.squaredfinancial.com/learn/daily-market-outlook/geopolitical-tensions-covid-19-wave-2-concerns-will-keep-gold-strong-gold-mar

Trading news

 

Euro soars after ECB’s surprise; dollar extends slide ahead of NFP

  Euro skyrockets after ECB increases pandemic stimulus by more than [...]

Posted on Friday, 05 Jun, 2020 / 8:47 under

Is Gold sunny no matter what the weather is?

By Giles Coghlan, Chief Currency Analyst at HYCM The recent weather in the UK [...]

Posted on Friday, 05 Jun, 2020 / 8:40 under

USD/CHF: The bear is in town

USD/CHF has been bearish on the daily chart. The pair produced a bearish [...]

Posted on Friday, 05 Jun, 2020 / 7:46 under