Stay 
Trading Conditions
Products
Tools
Gold is holding the lower ground, heading closer towards $1,800, as traders remain cautious and refrain from placing any fresh directional bets ahead of the all-important US NFP data due this Friday.
Gold is challenging critical support at $1,809, which is the convergence of the Fibonacci 38.2% one-month, Fibonacci 23.6% one-day, Fibonacci 61.8% one-week
If the abovementioned support caves in, then gold sellers will look for a test of the next relevant downside target at $1,804.
The $1,800 could be on the sellers' radars, below which the pivot point one-day S2 at $1,800 could offer some support to the bulls.
The last line of defense for gold price is seen around $1,793, the confluence of the previous week's low and Fibonacci 61.8% one-month.
On the flip side, a dense cluster of healthy resistance levels are placed around $1,813, the intersection of the Fibonacci 38.2% one-day and Fibonacci 61.8% one-day.
The next resistance awaits at $1,818, where the Fibonacci 38.2% one-week coincides with the Fibonacci 23.6% one-month and the previous day's high.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
