FX.co ★ Daily analysis of GOLD for April 27, 2016

Overview

The gold price showed positive trading yesterday surpassing the EMA50 and settling above it. This supports the continuation of the expected bullish trend for the upcoming period, and the price is likely to resume the rise that targets 1,282.92 followed by 1,300.00 levels mainly. Therefore, our bullish trend expectations will remain valid and active in the upcoming sessions unless breaking 1,227.40 levels and holding with a daily close below it. Our next main target begins at 1,282.92 and extends to 1,300.00.

The expected trading range for today is between the 1,227.00 support and 1,270.00 resistance.