A Quick Overview of Gold (XAU/USD); June 28, 2021

Short Term Outlook: Gold (XAU/USD)

  • Gold moves in rigid boundaries since June 17, 2021.
  • The pair made intraday high at $1,785 and low at $1,770 mark.
  • A day chart and H1 chart with triple EMA suggest bearish trend for the time being.
  • A sustained close above $1,784 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,770 will check further supports.
  • U.S. stocks open almost flat on Monday and Investors have been waiting for the Fed to start the taper talk.
  • Last FOMC’s hawkish tone is a reflection of their certainty that U.S. economic data will continue to improve in the coming months.
  • Traders are eagerly waiting for the U.S. NFP Job data due on Friday.
$1,770 $1,784
$1,764 $1,790
$1,757 $1,794
$1,752 $1,799
$1,747 $1,805

Take a look and do trade wisely!
Good Luck