Gold: Marks three-day losing streak, towards $1,450, despite fresh risk-off

Posted 20 March, 2020

With new risks and news about the Trump administration's ongoing efforts to fight the coronavirus (COVID-19) to help the US dollar, gold continues to squeeze around $ 1,467 and the lowest at $ 1,455 during the Asian session. Friday. 

The US Senate government has announced its third proposal and is nearing a final bill, which is likely to be submitted on Monday to avoid the negative effects of the deadly virus. In addition, the mayor of New York hopes to run out of medicine and challenge the risk.

Elsewhere, British mission chief David Frost is expected to contract the disease, and British Chancellor Rishi Sunak is likely to take a bold step in the fight against the pandemic.

It also signifies a global willingness to raise a dollar, which could lead to a plan for the future Australian Banking Association assistance, as well as canceling President Trump's personal visits to the G7 meetings in April and May.

Representing a sense of risk, US stock futures report a loss of more than 1.5% at the time of publication.

Investors will be interested in treatment news after previous reports that Remesivir Gilead has been tested to treat COVID-19. Until then, the global catalyst for the epidemic will be the main catalyst.

 

Technical Analysis

 

If you successfully trade a non-200-day SMA, which is currently at $ 1,503, the yellow metal cannot rule out the possibility of a further decline to around $ 1,445 by 2019. November The lowest level.

 

ADDITIONAL IMPORTANT LEVELS

 

OVERVIEW
Today last price
1470.86
Today Daily Change
-15.24
Today Daily Change %
-1.03
Today daily open
1486.1

 

TRENDS
Daily SMA20
1610.59
Daily SMA50
1585.64
Daily SMA100
1535.85
Daily SMA200
1501.75

 

LEVELS
Previous Daily High
1546.57
Previous Daily Low
1472.8
Previous Weekly High
1703.4
Previous Weekly Low
1504.72
Previous Monthly High
1689.4
Previous Monthly Low
1547.56
Daily Fibonacci 38.2%
1500.98
Daily Fibonacci 61.8%
1518.39
Daily Pivot Point S1
1457.08
Daily Pivot Point S2
1428.05
Daily Pivot Point S3
1383.31
Daily Pivot Point R1
1530.85
Daily Pivot Point R2
1575.59
Daily Pivot Point R3
1604.62

Previous forecast

23 March, 2020 15:11

← Gold Price Analysis: Trapped in descending triangle amid risk-off

Gold is being squeezed in a triangle pattern amid recession fears and risk aversion. A breakout would put the bulls in a commanding position, yielding notable recovery rally.

Gold Price Analysis: Trapped in descending triangle amid risk-off

Next forecast

19 March, 2020 16:50

Oil Price Analysis: WTI prices depressed in 18-years lows near $24 per barrel →

Crude oil prices had one the worst selloff in history plummeting to near $20 a barrel in the last four weeks.

Oil Price Analysis: WTI prices depressed in 18-years lows near $24 per barrel
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