{"id":105069,"date":"2020-09-21T22:27:23","date_gmt":"2020-09-21T21:27:23","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105069"},"modified":"2020-09-21T22:27:23","modified_gmt":"2020-09-21T21:27:23","slug":"gold-risks-further-declines-amid-ascending-triangle-breakdown","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/gold-risks-further-declines-amid-ascending-triangle-breakdown\/","title":{"rendered":"Gold risks further declines amid ascending triangle breakdown"},"content":{"rendered":"<ul>\n<li><strong>Gold under pressure as the US dollar reverses<\/strong><\/li>\n<li><strong>Ascending triangle breakdown seen on the hourly chart.<\/strong><\/li>\n<li><strong>Hourly RSI plays with the oversold territory, attention shifts to Powell.<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Gold tested and rejected $1950 on several occasions on Monday before selling sharply lower losing almost $10 in an hour.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The US Dollar rebound is mainly responsible for Gold\u2019s move lower as risk appetite waned and risk aversion dominated over rising covid fears. Investors are also preferring to hold the US\u00a0 Dollar ahead of the Federal Reserve Chair Jerome Powell\u2019s speech later today.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the near term, Gold broke ascending trendline support at $1945.58 last hour, confirming an ascending triangle breakdown on the hourly sticks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The\u00a0 horizontal 100-hourly Simple Moving Average (HMA) at $1954 offered strong resistance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gold trades below all its major HMAs and looks set toto test the pattern target at $1915.Prior to that level, last $1932.88\u00a0 (last Thursday\u2019s low)will likely test the bears\u2019 commitment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The hourly Relative Strength Index (RSI), is flirting with\u00a0 oversold territory, which indicates that here could be more downside to come<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regaining the\u00a0 $1950 is critical to negate the bearish trend and reviving the bulls. The 21, 50 and 200-HMAs are aligned around the confluence area.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the recovery will gain momentum only on following a strong move through the 100 HMA<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold under pressure as the US dollar reverses Ascending triangle breakdown seen on the hourly chart. Hourly RSI plays with the oversold territory, attention shifts to Powell. Gold tested and rejected $1950 on several occasions on Monday before selling sharply lower losing almost $10 in an hour. The US Dollar rebound is mainly responsible for [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1381],"tags":[],"class_list":["post-105069","post","type-post","status-publish","format-standard","category-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold risks further declines amid ascending triangle breakdown - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/gold-risks-further-declines-amid-ascending-triangle-breakdown\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gold-risks-further-declines-amid-ascending-triangle-breakdown\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gold-risks-further-declines-amid-ascending-triangle-breakdown\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"Gold risks further declines amid ascending triangle breakdown\",\"datePublished\":\"2020-09-21T21:27:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gold-risks-further-declines-amid-ascending-triangle-breakdown\\\/\"},\"wordCount\":220,\"articleSection\":[\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gold-risks-further-declines-amid-ascending-triangle-breakdown\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gold-risks-further-declines-amid-ascending-triangle-breakdown\\\/\",\"name\":\"Gold risks further declines amid ascending triangle breakdown - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"datePublished\":\"2020-09-21T21:27:23+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gold-risks-further-declines-amid-ascending-triangle-breakdown\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/gold-risks-further-declines-amid-ascending-triangle-breakdown\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/gold-risks-further-declines-amid-ascending-triangle-breakdown\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold risks further declines amid ascending triangle breakdown\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\",\"name\":\"Fiona Cincotta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"caption\":\"Fiona Cincotta\"},\"description\":\"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. 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