From TradingView · · 1m 10s
Gold H1 Analysis, October 20
Gold price drops as US dollar strengthens and Treasury yields rise.
In brief
Gold price drops as US dollar strengthens and Treasury yields rise. Gold fell 0.4% on October 19 as the US dollar strengthened and 10-year Treasury yields rose, signaling potential continued pressure on gold prices. Originally reported by TradingView.
Gold Price Movement
Spot gold prices fell 0.4% on October 19 as the US dollar strengthened and the yield on the 10-year US Treasury note rose.
Technical Analysis
XAUUSD is in a clear short-term downtrend after breaking below the 4,145, 4,150 support zone and trading beneath the 20, 50, 100, and 200-period EMAs.
Key Price Zones
SELL 4,145, 4,150: Near-term resistance zone previously serving as support but now breached; aligns with the 20-period EMA.
Strong Resistance Zone
SELL 4,185, 4,190: Price zone that has repeatedly faced selling pressure during previous corrective rallies.
Strong Support Zone
BUY 4,075, 4,080: Strong support zone where price previously formed a bottom and staged a rebound on October 15.
Trading Outcome
Gold reached the SELL zone and extended its decline towards the 4,080 price level as predicted.
What it means
Gold fell 0.4% on October 19 as the US dollar strengthened and 10-year Treasury yields rose, signaling potential continued pressure on gold prices.
