FX.co ★ Daily analysis of Gold for March 22, 2018

Overview

Gold is trading with a slight downward bias since the morning after testing 1,335.40 level in the previous sessions as the price is affected by stochastic negativity. At the same time, the EMA50 is still providing the price with support. Therefore, we still suggest the bullish trend for today unless the price breaks 1,316.48 and holds below it. Please note that breaching 1,335.40 will extend the bullish wave to reach 1,365.97 as a next main station. The expected trading range for today is between 1,316.00 support and 1,350.00 resistance.