Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
EUR/USD: euro going lower
Technical levels: support – 1.2260, 1.2210; resistance – 1.2300.
- Sell — 1.2280; SL — 1.2300; TP1 — 1.2210; TP2 — 1.2130
Reason: narrowing irregular bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market are in the negative area and made the new lows.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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