Gold prices snap two-day winning streak while stepping back from short-term horizontal resistance. Weekly low, 200-HMA restricts short-term downside. Gold prices register another pullback from the key $1,752/54 horizontal resistance while taking rounds to $1,747.50 during Thursday’s Asian session. That said, sellers are likely targeting $1,740 as immediate support during the further declines. However, the weekly low and 200-HMA around $1,726/25.50 might challenge additional weaknesses. Should the precious metal drop below $1,725.50, May 08 top near $1,723.70 could probe the bears before offering them $1,714 rest-point comprising 61.8% Fibonacci retracement of May 06-18 upside. Alternatively, a clear break of $1,754 will have to successfully cross the recent high of $1,765.38 to challenge the year 2012 top surrounding $1,796. Gold hourly chart Trend: Pullback expected 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 BlockFi experiences a data breach but says no customer funds lost FX Street 2 years Gold prices snap two-day winning streak while stepping back from short-term horizontal resistance. Weekly low, 200-HMA restricts short-term downside. Gold prices register another pullback from the key $1,752/54 horizontal resistance while taking rounds to $1,747.50 during Thursday’s Asian session. That said, sellers are likely targeting $1,740 as immediate support during the further declines. However, the weekly low and 200-HMA around $1,726/25.50 might challenge additional weaknesses. Should the precious metal drop below $1,725.50, May 08 top near $1,723.70 could probe the bears before offering them $1,714 rest-point comprising 61.8% Fibonacci retracement of May 06-18 upside. Alternatively, a clear break of $1,754… Top 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.
