27.01.202115:08 Forex Analysis & Reviews: Analysis of Gold for January 27,.2021 - Watch for selling opportunities on the rallies with the main target at $1.830-$1.810

ECB is monitoring strengthening in the euro

Euro strength would take prominence for ECB if it threatens inflation outlook
ECB taking a holistic view on financing conditions
ECB hasn't reached lower bound, still room for rate cuts
Too early to talk about exit from low rates
There should be room for optimism after the summer

This is knocking the euro a little lower on the day, with EUR/USD falling to 1.2120 currently - creeping below its 200-hour moving average. There is also a slight dollar bid across the board as we see commodity currencies ease to session lows on the day as well.

Further Development

Analyzing the current trading chart of Gold, I found that sellers are in control and as I predicted the downside cycle is active with potential for the test of the support levels at $1,830 and $1,810.

Key Levels:

Resistance: $1,850

Support levels: $1,830 and $1,810.

*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。

Petar Jacimovic,
分析专家
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