Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1357.42). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Gold is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
....
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Trading suggestion:
. There is a possibility of temporary retracement to resistance support line (1280.90). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can act as...
Gold finally paused after the stellar rally as it moved in a range of $55 cradled between the support and the resistance posting a negative return of $10 after 6 weeks. The fall was on account of better than expected payroll data which reduced the likelihood of a rate cut in the next Fed meet allowing the dollar index to move higher. But even amongst such...
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