XAU / USD Technical Analysis - Uniglobe Markets

XAU / USD Technical Analysis

Posted on August 10, 2018 at 06:16 AM

The price of gold is falling and is now settling around 1210.00, and stability below this mentioned level is considered a loot. But at the same time, we will need to see a break of 1200.00 to prove the negative extension.

Moving averages give supportive signals for a potential downside. But at the same time, we confirm that the negativity requires breaking the level of 1200.00. From the top, trading back above 1215.00 will be an understatement.

Price Trend: Down with a break of 1210.00 targeting the level of 1200.00 provided that the 1215.00 is intact

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