Gold is taking the rounds near $1276 while heading into the European open on Thursday. The yellow metal has been on recovery from Tuesday when it plummeted to the 2019 lows. On the hourly chart, an upward sloping support-line joining recent lows, at $1273, seems immediate important support, a break of which can recall $1271 and $1268.50 on the chart. However, latest lows near $1266, eight-month-long ascending support-line on the daily chart near $1265 and 61.8% Fibonacci expansion (FE) of its April 15-24 moves at $1263.50 can entertain sellers afterward. Alternatively, a horizontal-line connecting high since April 16 at $1280 becomes nearby important resistance, a break of which should escalate the recovery to $1283.50 and another horizontal upside barrier near $1285.50/60. Should there be increased buying pressure around $1285.60, $1290.00 and $1296.00 a could become Bulls’ favorite during the additional rise. 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 Riksbank: Interest rates path likely to be revised lower – TDS FX Street 4 years Gold is taking the rounds near $1276 while heading into the European open on Thursday. The yellow metal has been on recovery from Tuesday when it plummeted to the 2019 lows. On the hourly chart, an upward sloping support-line joining recent lows, at $1273, seems immediate important support, a break of which can recall $1271 and $1268.50 on the chart. However, latest lows near $1266, eight-month-long ascending support-line on the daily chart near $1265 and 61.8% Fibonacci expansion (FE) of its April 15-24 moves at $1263.50 can entertain sellers afterward. Alternatively, a horizontal-line connecting high since April 16 at $1280… 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.
