⭐ Start off 2025 with a powerful boost to your portfolio: January’s freshest AI-picked stocksUnlock stocks

Bullish Gold, Bearish EUR: Levels, Targets

Published 01/16/2015, 02:15 AM
Updated 07/09/2023, 06:31 AM
EUR/USD
-
EUR/GBP
-
EUR/CHF
-
GC
-
XAU/EUR
-

Gold in euros ( XAU/EUR) continues to trend higher towards its measured target of 1100, notes Bank of America Merrill Lynch.

"While this could be a near term sticking point, on a longer term basis XAU/EUR has significant topside," BofA adds.

"Indeed, the Gold (in USD) break above 1255/1253 resistance (Oct-21 high and the 200d); clears the way for 1345 and beyond," BofA projects.

Spot Gold

Meawhile, with the break of 1.2000 in EUR/CHF, BofA reiterates its bearish EUR view.

"EUR/USD could see a pause into 1.1555/1.1500 support, but bounces should be sold. Gains should not exceed 1.1767/1.1841. We continue to target 1.1212 (61.8% of the 2000/2008 advance) ahead of 1.0588/1.0283," BofA advises

Meanwhile BofA remains short EUR/GBP for 0.7582, ahead of 0.7539 and potentially below.

EUR/USD

Original post

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.