Gold Weakens on Friday and touched $1,828 mark, U.S. Treasury Sec Yellen’s Speech In Focus; Jan 21, 2022

Today’s U.S. session is almost empty but U.S. Treasury Sec yellen’s speech will remain in focus (Due to speak at the World Economic Forum, via satellite). It’s the Treasury Secretary’s job to communicate the U.S. President’s economic policies, and her speeches are often used to signal policy shifts to the public and to foreign governments. Yellen’s comment may bring volatility to the FX markets.

Technical View:

XAU/USD (Gold):

  • The Gold weakens on Friday and touches $1,828 mark.
  • Today pair made intraday high at $1,842 and low at $1,828 mark.
  • A day chart and H1 chart with triple EMA suggest up trend for the time being.
  • A sustained close above $1,838 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,830 will check further supports.
$1,827 $1,849
$1,821 $1,854
$1,817 $1,860
$1,811 $1,864
$1,806 $1,868

Take a look and do trade wisely!
Good Luck