FX.co ★ Daily analysis of GOLD for April 2, 2016

Overview

The gold price shows clear bullish bias now and starts testing $1,260.00 levels. The price needs to breach this level to reinforce the positive expectations on the short-term basis and open the way towards targeting $1,282.92 then $1,300.00 levels mainly. Therefore, the bullish trend will remain valid in the upcoming period supported by the EMA50 and stochastic, unless breaking the $1,227.40 level and holding with a daily close below it.

The expected trading range for today is between the $1,230.00 support and the $1,270.00 resistance.