In view of Karen Jones, analyst at Commerzbank, Gold’s price action continues to resemble a consolidation pattern. Key Quotes “We view this in a bullish light and would consider a close above the near term resistance line at 1515 as the precursor to a challenge of the 1557.29 4th September high.” “Gold has previously completed a major base. This offers an upside measured target to 1690/1704 longer term. The recent low at 1459 is regarded as an interim low and together with the mid July peak at 1453 is expected to act as a short term floor for the market.” “Below here lies the 55 day moving average at 1448.97 ahead of support offered by a double Fibonacci retracement at 1412/1406 (38.2% retracement of the move up from the August 2018 low) and 50% retracement of the move up from the May low).” 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 Ripple’s XRP technical analysis: XRP/USD bulls hit with a blow at pychological $0.3000 mark FX Street 4 years In view of Karen Jones, analyst at Commerzbank, Gold's price action continues to resemble a consolidation pattern. Key Quotes "We view this in a bullish light and would consider a close above the near term resistance line at 1515 as the precursor to a challenge of the 1557.29 4th September high." "Gold has previously completed a major base. This offers an upside measured target to 1690/1704 longer term. The recent low at 1459 is regarded as an interim low and together with the mid July peak at 1453 is expected to act as a short term floor for the market."… 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.
