FX.co ★ Analysis for Gold 04.22.2020 - Strong rejection of the daily 20SMA and potential for bigger rally. Upside target is set at $17.45

Corona virus summary:

The prospect of a prolonged worldwide impact has hardened after a survey of thousands of business leaders warned of a drawn-out recession, with many companies likely to fold. Around 60% of chief executives surveyed are preparing for a U-shaped recovery – a long period between recession and an upturn. "We have not seen a crisis like this for over a hundred years, and some household names will not survive," said Glenn Keys, executive chairman of Aspen Medical, a Singapore-based health services firm.

Technical analysis: