“¢ PBoC news-led modest USD retracement triggers the initial leg of recovery move from the $1200 neighborhood, or 13-month lows, amid near-term oversold conditions. “¢ Disappointing headline NFP print, coupled with trade-related headlines provided an additional boost and lifted the commodity through an important confluence hurdle. “¢ With RSI (14) on the 1-hourly chart gaining positive momentum, a follow-through up-move, possibly beyond $1220 level, now looks a distinct possibility. Gold 1-hourly chart Spot Rate: $1214.83 Daily Low: $1204.50 Trend: Short-term bullish Resistance R1: $1218 (100-period SMA H1) R2: $1221 (overnight swing high) R3: $1229 (weekly high set on Tuesday) Support S1: $1210 (horizontal zone) S2: $1204.50 (daily swing low) S3: $1200 (psychological round figure mark) 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 GBP/USD Technical Analysis: GBP/USD trading near 1.3000 post-US NFP FX Street 5 years "¢ PBoC news-led modest USD retracement triggers the initial leg of recovery move from the $1200 neighborhood, or 13-month lows, amid near-term oversold conditions. "¢ Disappointing headline NFP print, coupled with trade-related headlines provided an additional boost and lifted the commodity through an important confluence hurdle. "¢ With RSI (14) on the 1-hourly chart gaining positive momentum, a follow-through up-move, possibly beyond $1220 level, now looks a distinct possibility. Gold 1-hourly chart Spot Rate: $1214.83 Daily Low: $1204.50 Trend: Short-term bullish Resistance R1: $1218 (100-period SMA H1) R2: $1221 (overnight swing high)… 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.
