Gold trades near the eight-day high. 38.2% Fibonacci retracement, a falling support line since mid-August gain sellers’ attention during the pullback. Gold’s recovery from 38.2% Fibonacci retracement fails to sustained beyond an eight-day high as it slips to $1,470 ahead of Tuesday’s European open. Prices are likely to revisit the 38.2% Fibonacci retracement of April-September upside, at $1,445. However, a downward sloping trend-line since August 13, at $1,429, followed by a 50% Fibonacci retracement level of $1,410 limits the bullion’s further declines. Should there be bears’ dominance below $1,410, 200-day Simple Moving Average (SMA) level of $1,395 will be the key to watch. Meanwhile, buyers are looking for entry beyond a 100-day SMA level of $1,480 to aim for 23.6% Fibonacci retracement level of $1,489 and an eleven-week-old descending trend line, at $1,504. If at all bulls keep the head high beyond $1,504, monthly top near $1,515 and September 25 high around $1,535 will become buyers’ favorites. Gold daily chart Trend: Sideways 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 Russian Intelligence Agency linked to $450M missing crypto FX Street 3 years Gold trades near the eight-day high. 38.2% Fibonacci retracement, a falling support line since mid-August gain sellers' attention during the pullback. Gold's recovery from 38.2% Fibonacci retracement fails to sustained beyond an eight-day high as it slips to $1,470 ahead of Tuesday's European open. Prices are likely to revisit the 38.2% Fibonacci retracement of April-September upside, at $1,445. However, a downward sloping trend-line since August 13, at $1,429, followed by a 50% Fibonacci retracement level of $1,410 limits the bullion's further declines. Should there be bears' dominance below $1,410, 200-day Simple Moving Average (SMA) level of $1,395 will be the… 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.
