Gold analysis for 28.07.2020

USD is under pressure due to tensions between China and the US.
The support rests at 1914.46 with resistance at 1963.06 which both lines are above the weekly pivot point at 1869.57. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend.
The bearish pressure may drag down the price towards 1910; then bullish trend will continue.

gold
Source: fxglory