Gold is trading 0.54% lower as the dollar strength continues. The next support is USD 1863.24 per ounce. Gold 4-hour chart Gold has broken lower over the past couple of sessions as the greenback strength gathers momentum. It is hard to confirm if this is a deep correction or a reversal although the latter seems less likely. The global risk environment has not been too great either and gold usually shines during times of turmoil so there may be a lagging effect for this theme. Looking at the technicals, the blue support level that has been broken was pretty firn. Now the consolidation low marked in red could be the next big target for the bears. If the bulls are to take charge the blue line at USD 1915 per troy ounce could be the next resistance. Beyond that, the black upward sloping trendline could also be another resistance zone to watch. The indicators are understandably bearish. The Relative Strength Index is oversold and this could mean there is a small correction before the move continues. The MACD histogram is in the red and the signal lines are under the mid-zone. There is a good degree of MACD separation too indicating the move may continue. The underlying uptrend on the higher timeframe may not be over. Before the bulls were waiting for the price to break the USD 2k but now the new level to watch to the upside is USD 1915 per troy once. Having said this, if the move lower is serious then there could be a retest and rejection of the levels mentioned. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 Price Analysis: The price stopped at a decent support zone but the bulls are not out of the woods just yet FX Street 2 years Gold is trading 0.54% lower as the dollar strength continues. The next support is USD 1863.24 per ounce. Gold 4-hour chart Gold has broken lower over the past couple of sessions as the greenback strength gathers momentum. It is hard to confirm if this is a deep correction or a reversal although the latter seems less likely. The global risk environment has not been too great either and gold usually shines during times of turmoil so there may be a lagging effect for this theme. Looking at the technicals, the blue support level that has been broken was pretty firn.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.