The XAU/USD traded sideways on Friday. The price was in-between 1260 and 1250 dollar per once. The yellow metal moved in a range with a tendency to decline. The resistance is at 1260, the support comes in at 1250 dollar per ounce.
A strong breakdown and close below 1250 could send prices lower towards 1240. A break above 1260 suggests further strengthening towards 1270 dollar per ounce.
Brent futures traded mixed on Friday. Brent oil is stuck between the 52.50 and 51.50 levels. The price seems to have found a descent support around 51.50. The level did not let the price to fall further. Brent futures bounced off the level and reversed some of its losses by the end of the trades. The resistance is at 46.50, the support comes in at 45.30 dollars per barrel.
We think the price will fall on Monday. As the most probable scenario, we consider further moving downwards towards the level at 50.50.
Read the full review on our site:
FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications
Only until February 26, special deposit rates* are available for all traders in Malaysia, Indonesia, Vietnam and Thailand: 3.6 MYR = 1 USD 10 000 IDR = 1 USD 20 000 VND = 1 USD 25 THB = 1 USD *Only Local bank deposit method is included Hurry up to take advantage of the offer until […]