Market Technical Analysis by RoboForex

[RBFX Support]

XAUUSD poised for a breakout, with US CPI the key catalyst

Gold continues to strengthen following the release of US employment data, with prices currently hovering at 4,125 USD. 

Technical outlook

On the H4 chart, XAUUSD prices have formed a Hammer reversal pattern near the middle Bollinger Band and could extend their upward wave as the pattern's signal plays out. Since XAUUSD remains within an ascending channel, the target for further growth is the 4,190 USD resistance level.

Gold continues to recover following the release of US employment data, with US CPI figures set to be the main catalyst this week.

Read more - Gold Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

[RBFX Support]

US inflation could deal another blow to XAGUSD: markets pause ahead of the CPI release

Silver is still attempting to gain ground as investors await US inflation data, with prices currently hovering at 52.80 USD.

Technical outlook

On the D1 chart, XAGUSD prices have formed a Harami reversal pattern near the lower Bollinger Band and could extend their corrective wave as the pattern's signal plays out. Since XAGUSD remains within a descending channel, the target for the pullback is the 55.55 USD resistance level.

US inflation expectations are preventing silver from strengthening and reversing the existing trend.

Read more - Silver Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team