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17.01.202017:04 Forex Analysis & Reviews: Gold 01.17.2020 - Decision pivot level on the Gold at the price of $1.562

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Gold has been trading sideways at the price of $1.557. The price is near the critical decision level at $1.562 and you should watch carefully the price action around it.

Exchange Rates 17.01.2020 analysis

The breakout of the $1.562 to the upside will confirm test of $1.557 and in that case you should watch on buying opportunities on the dips.

The rejection of the resistance at $1.562 would confirm rotation back towards the level of $1.535.

MACD oscillator is showing positive reading but the slow line is tuned to the downside.

Major resistance is set at the price of $1.562.

Support levels and downward target is set at the price of $1.535.

Petar Jacimovic
Analytical expert of InstaForex
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