Gold is Bouncing off Strong Support

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The Gold has dropped towards 1561 support during the extremely volatile Asian session. Risk-on has been dominating the market.

At this point Gold is trying to reach next zone of resistance. 1605-1608 is the zone to watch. If it breaks higher then the final target is 1620. However a drop below 1600, might be a bit bearish for the pair and the next target is a retest of 1550 again. Watch for potential selling the rallies today and buying the dips close to above mentioned levels.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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