FX.co ★ Analysis of Gold for April 13,.2021 - Downside target reached at $1.721 with potential for rally towards $1.746

Germany April ZEW survey current situation -48.8 vs -54.1 expectedPrior -61.0Expectations 70.7 vs 79.0 expectedPrior 76.6Eurozone expectations 66.3Prior 74.0The current situation index sees a beat on estimates but the expectations reading missed and fell relative to the March survey, suggesting that optimism has waned since then. It is the first time that the latter has fallen since November last year.

Further Development

Analyzing the current trading chart of Gold , I found that GOld reached my first downside target at $1.721 and that there is rejection and potential for rally...Watch for buying opportunities on the dips with the upside target at $1.746.Key Levels:

Resistance: $1.746Support level: $1.721