• Gold reversed from key support level 1970.00
• Likely to rise to resistance level 2050.00
Gold earlier reversed up sharply from the key support level 1970.00, standing close to the 38.2% Fibonacci correction of the upward impulse from March.
The upward reversal from the support level 1970.00 started the active short-term impulse wave 3.
Given the clear daily uptrend, Gold can be expected to rise further toward the next resistance level 2050.00 (top of the previous impulse wave 1).
The dollar experienced a sell-off but rallied back up by the end of the week.…
The new week will be packed with economic data and decisions from key central banks.…
Despite economic factors working against the dollar, its oversold condition helped it this week or…
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