Gold stands on the slippery ground after reversing from one-month-old triangle. Bearish MACD, a pullback from triangle resistance favor sellers. Bulls can attack the $2,000 threshold on the triangle’s upside break. Gold prices lose 1.0% while declining to $1,939.70, intraday low of $1,97.80, during the pre-European session on Thursday. The yellow metal’s declines marks its U-turn from the upper line of a short-term symmetrical triangle formation established since August 12. With the consolidation in gold prices joining bearish MACD, sellers cheer a downside break of 1-day EMA, which in turn directs the quote towards the triangle’s support, at $1,920.80 now. It should, however, be noted that the bullion’s further weakness will depend upon how long it stays below the 50-day EMA level of $1,915.81. On the upside, gold buyers’ ability to regain 21-day EMA support, currently around $1,945.85, will direct the moves towards the triangle’s resistance line near $1,968. In a case where the bulls manage to cross $1,968 on a daily closing basis, the monthly top around $1,992 and the $2,000 psychological magnet will be their next choice. Gold daily chart Trend: Further weakness 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 NEM Update: XEM migration to Symbol phase 1 begins, price eyes $0.17 FX Street 2 years Gold stands on the slippery ground after reversing from one-month-old triangle. Bearish MACD, a pullback from triangle resistance favor sellers. Bulls can attack the $2,000 threshold on the triangle’s upside break. Gold prices lose 1.0% while declining to $1,939.70, intraday low of $1,97.80, during the pre-European session on Thursday. The yellow metal’s declines marks its U-turn from the upper line of a short-term symmetrical triangle formation established since August 12. With the consolidation in gold prices joining bearish MACD, sellers cheer a downside break of 1-day EMA, which in turn directs the quote towards the triangle’s support, at $1,920.80 now.… 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.