FX.co ★ Analysis for Gold 04.28.2020 - Watch for the buying opportuinties due to the breakout of the supply trendline. Potential test of the $1.738

Corona virus summary:

Europe's largest economy shrank by 1.9% in the first three months of 2020

British energy giant BP recorded a $4.4bn net loss in the first quarter

down from a profit after tax of $2.9bn in the first quarter of 2019

Technical analysis:

Gold has been downwards. The prie tested the level of $1,694 but i rejected strongly from our support at the price of $1,695.I see potential for the upside movement and test of the $1,738-$1,746.

Trading recommendation:

Resistance levels are set at the price of $1,738-$1,746.