Is gold ready for bearish correction?

Gold dives towards 2,300; MACD and RSI decline from overbought regions; Price post bearish correction
XM Group | 546 dni temu

Gold prices have been underperforming in the past two days, breaking back below the 2,320 and the 20-day simple moving average (SMA). 

Momentum indicators are pointing to a negative bias in the short term with the RSI ticking strongly to the downside. The MACD is easing beneath its trigger line losing its positive momentum. Both are confirming that a downside correction may be on the cards.  

Further losses could see the 161.8% Fibonacci extension level of the down leg from 2,079 to 1,1810 at 2,245 come into play. A drop below the 50-day SMA, which stands near 2,222 would reinforce the bearish structure in the short term and open the way towards the next key levels of 2,195 and 2,145.

In the event of an upside reversal, the 2,400 round number could act as a barrier before being able to re-challenge the record peak of 2,431.48. A rally above this level could shift the outlook back to positive, hitting the 261.8% Fibonacci extension level of 2,515.

All in all, gold prices are in the process of a potential downside retracement before switching the near-term outlook back to bullish.

 

XM Group
Wprowadzić: Market Maker
Regulacja: CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa)
read more
EUR/USD Under Downward Pressure

EUR/USD Under Downward Pressure

The euro is facing sustained selling pressure, primarily driven by a robust US dollar. The greenback is being bolstered by rising Treasury yields and fading market expectations for an early start to the Federal Reserve’s easing cycle.
RoboForex | 19g 2 minut temu
Japanese bulls went to recharge

Japanese bulls went to recharge

For the first time in Japan, a woman has become prime minister. Takaichi’s position (stimulating the economy and lowering interest rates) has led to speculative buying in Japanese stocks
FxPro | 19g 28 minut temu
ATFX Market Outlook 21st October 2025

ATFX Market Outlook 21st October 2025

US equities surged on Monday, with financial and technology shares providing most of the upside. Optimistic quarterly earnings revived risk appetite, while concerns about regional banks’ credit quality eased. The Dow gained 1.12%, the S&P 500 rose 1.07%, and the Nasdaq advanced 1.37%. The US Dollar Index edged higher alongside Treasury yields.
ATFX | 20g 11 minut temu
Dollar advances as markets remain cautious

Dollar advances as markets remain cautious

Dollar extends gains as US equity futures turn slightly lower; Trump’s tariff rhetoric fails to dent investor confidence; Gold retreats after fresh all-time high; oil weakness persists; Yen resumes its underperformance after Takaichi is elected as PM;
XM Group | 20g 48 minut temu