06.04.201717:48 Forex Analysis & Reviews: Daily analysis of Gold for April 06, 2017

Overview

Gold keeps its stability above the intraday bullish trend line, while the EMA50 keeps supporting the price from below to keep the bullish trend active for the rest of the day. We remind you that we are waiting for breaching 1,263.17 level to reinforce the chances for extending the bullish wave in the near-term basis, where the next target is located at 1,300.00. In general, we will keep preferring the bullish bias in the upcoming period unless breaking 1,250.00 then 1,243.00 levels, where breaking these levels will push the price to test critical support levels that begin at 1,231.13 and it might extend to 1,217.65 before any new attempt to rise. The expected trading range for today is between 1,244.00 support and 1,270.00 resistance.