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| Technical Analysis for Gold |
Gold moved yesterday in the average movement of 75 PIPs, its highest level at 1174.97 and the lowest price at 1167.35 and closed at 1167.35 to lose 46 pips According to Positive ADP Non-Farm Employment Change from USA.
Gold opened today's trading at 1168.35 volatile between 1166 and 1169 during the Asian session trading at 3 dollars for the poor liquidity in the market range.
Gold moves in a series of down impulse waves under the trend line
We saw the pair achieved our target at 1163
It is expected that the yellow metal is heading targeting 1160 as the target on time frame of four hours and till now we see the Bears control on market direction and the Bulls waits the first Support Level to enter the market
And the Relative Strength Indicator "RSI" show us distribution operations at the market
Today we could see sharp trading because of the economic data from USA
Support levels: 1164.81 and 1162.27 and 1157.19
Resistance levels: 1172.43 and 1177.51 and 1180.05
For More Technical Outlook FxStations
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