FX.co ★ Analysis of Gold for June 19,.2020 - Strong upward movement today and the rising trendline estalbished. Potential for test of $1.737-$1.742

Corona virus summary:

he UK's chief medical officers have agreed that the Covid-19 threat level should be lowered one notch to "epidemic is in general circulation" from "transmission is high or rising exponentially".

The joint biosecurity centre recommended the Covid-19 alert level should move from level 4 (a Covid-19 epidemic is in general circulation; transmission is high or rising exponentially) to level 3 (a Covid-19 epidemic is in general circulation).

Technical analysis:

Gold has been trading upwards today. The price tested the level of $1,733. I see further upward movement till end of the day and potential test of $1,737 and $1,742.

Trading recommendation:

Watch for potential buying opportunities on the dips using the intraday frames like 15/30 minuites for better entry location.

Support level is set at teh price of $1,727.

Rising trendline is active...