Gold prices extend the latest recovery from $1,711 as DXY refreshes two-month low. A confluence of 10-day EMA, nine-day-old falling trend line probes immediate upside. An ascending trend line from April 21 favors the bulls. Gold prices remain mildly bid around $1,721 ahead of the European open on Friday. In doing so, the bullion confronts a short-term key resistance while stretching the pullback moves from a five-week-old support trend line. Considering the normal RSI conditions and the strength of the risk-aversion wave, amid the US-China tussle, the precious metal is expected to break the $1,721/23 resistance confluence. In doing so, April month’s top surrounding $1,748 could be on the bulls’ radars before targeting to refresh the monthly top near $1,765.38. On the flip side, a month-long support line, at $1,696 now, could keep the near-term downside limited. In a case where the bullion flashes a daily close below $1,696, April 21 bottom near $1,661 could return to the chart. Gold daily chart Trend: Bullish 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 Australian PM Morrison: Risk of the coronavirus outbreak remains great FX Street 3 years Gold prices extend the latest recovery from $1,711 as DXY refreshes two-month low. A confluence of 10-day EMA, nine-day-old falling trend line probes immediate upside. An ascending trend line from April 21 favors the bulls. Gold prices remain mildly bid around $1,721 ahead of the European open on Friday. In doing so, the bullion confronts a short-term key resistance while stretching the pullback moves from a five-week-old support trend line. Considering the normal RSI conditions and the strength of the risk-aversion wave, amid the US-China tussle, the precious metal is expected to break the $1,721/23 resistance confluence. In doing so,… 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.
