FX.co ★ Daily analysis of Gold for May 01, 2018

Overview

The gold price is moving downwards, moving away from 1,316.48 levels, which supports the continuation of our bearish overview for the rest of the day. The price is likely to visit 1,301.20 levels as the next main station. The EMA50 provides continuous support to the expected bearish trend. Holding below 1,316.48 represents an initial condition to continue the suggested decline. The expected trading range for today is between the 1,290.00 support and the 1,325.00 resistance.