FX.co ★ Gold 01.10.2020 - Key decision pivot on the test at $1.500, further upside very possible

Gold has been trading sideways at the price of $1.550.My analysis from yesterday didn't change and I still see more upside on the Gold and potential re-test of $1.600 and $1.650.

The breakout of the major swing high this week was the key for strong demand on the Gold. My advice is to watch for buying opportunities on the dips using intraday-frames 5/15 minutes. The Non-Farm Employment Change can be big volatility boost for Gold.

MACD oscillator is showing increase on the upside momentum and new high, which is good confirmation for the further upside...

Resistance levels and upward targets are seen at the price of $1.601 and $1.650.

Key support level is set at the price of $1.550-$1.540