Gold is facing short term resistance around $1263(trend line joining $1391 and $1345) and any break above will target $1293 (61.8% retracement of $1391 and $1130)/$1320.
The pair’s minor support is around 1254 (200 day MA) and nay break below will take the pair to $1245/$1230.
Short term trend reversal only below $1230.
Indicator (Daily Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Gold around $1254, SL 1244, Target $1292.
The pair’s minor support is around 1254 (200 day MA) and nay break below will take the pair to $1245/$1230.
Short term trend reversal only below $1230.
Indicator (Daily Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Gold around $1254, SL 1244, Target $1292.