Gold (XAU/USD) awaits to make a strong rebound

Gold (XAU/USD) awaits to make a strong rebound

Gold has been trading in a negative tone across the board and remains capped by the 200 SMA at H1 chart. The 78.6% Fibonacci level is holding and it seems we could expect a strong support there in order to follow the overall bias towards the -23.6% Fibonacci target at 1375.80. To the downside, if such Fibo level gives up, then the next target would be the 1324.20 level.

RSI indicator remains in the negative territory.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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