Gold recently reversed up from the support area lying between the key support level 1450.00 (which has been reversing the price from September), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous weekly impulse from 2019.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing.
Gold is expected to rise further toward the next resistance level 1550.00 (former monthly low from February).
Market picture The release of US inflation data sparked a surge in risk asset purchases,…
• Gold broke daily down channel • Likely to reach resistance level 2415.00 Gold recently…
• AUDUSD broke key resistance level 0.6650 • Likely to reach resistance level 0.6760 AUDUSD…
The US dollar has been under relentless pressure since last Thursday, approaching more than one-month…
Market Picture Neither the meme mania in equities, the overall positivity in stock indices, nor…
• EURCHF rising inside impulse wave 3 • Likely to reach resistance level 0.9835 EURCHF…
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