XAUUSD: Gold prices run during the EUR session 15 SEPT
Fresh buyers have once again shown interest in the price of gold, just slightly above the $1,900 level. As a result, sellers of gold will need to break through this level in order to start a new downtrend towards the stable support at $1,885.
If the price falls further, it is expected that buyers will step in around the round level of $1,870. The downside seems more attractive for traders as indicated by the 14-day Relative Strength Index (RSI) which remains below 50.
On the other hand, there is an immediate resistance seen at the 21-day moving average (DMA) which stands at $1,918. If this hurdle is overcome by buyers of gold, they will then face another challenge at the 200 DMA located at $1,922.
To unleash a further recovery and move towards higher levels like the 50 DMA situated at $1
If the price falls further, it is expected that buyers will step in around the round level of $1,870. The downside seems more attractive for traders as indicated by the 14-day Relative Strength Index (RSI) which remains below 50.
On the other hand, there is an immediate resistance seen at the 21-day moving average (DMA) which stands at $1,918. If this hurdle is overcome by buyers of gold, they will then face another challenge at the 200 DMA located at $1,922.
To unleash a further recovery and move towards higher levels like the 50 DMA situated at $1
Trade active:
Running + 25pips ✔️✔️✔️
🔴 SL: 1926
🟢 TP1: 1913
🟢 TP2: 1908