FX.co ★ Gold Price Movement For May 06, 2020

If we look at the 4-hour chart, we see that gold is now in the Liquidity Void area, based on the 40-year statistic data for May. On the first week of May, gold tends to move up that is what is going on at present. On the second week, the price develops a downside movement. For now gold is trying to reach the nearest Liquidity Pool at $1,720.66. If the price can break above this level, gold's bullish momentum is still strong, so that the price will continue the upside movement to $1,737.93 as the first target and $1,746.24 as the second target. Please be aware this scenario will be canceled if gold retraces downwards below $1,669.60.

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