FX.co ★ Analysis for Gold 04.30.2020 - Broken resistance supply trendline in the background and strong demand today. Watch for upside opportunities with the main target at $1.738

Corona virus news:

Nearly half the global workforce – more than 1.6 billion people –could lose their livelihoodsdue to coronavirus restrictions and lockdowns, according to a UN International Labour Organization report. These include many informal workers, such as domestic workers, agricultural workers and street vendors, who may not have worker benefits or social protection. "For millions of workers, no income means no food, no security and no future," said the organisation's director general Guy Ryder. "As the pandemic and the jobs crisis evolve, the need to protect the most vulnerable becomes even more urgent," he said.

Technical analysis:

Gold has been trading upwards at the price of $1,721 as I expected yesterday. I still see posibility for the further upside movement towards the levels at $1,736 and $1,748.

Trading recommendation:

Watch for potential buying opportunities on the dips using the intraday time frames 15/30 minutes for the better entry. Protective stop can be placed at $1,708 and upward targets at $1,736 and $1,748.