FX.co ★ Daily analysis of Gold for July 06, 2016

Overview

The gold price bounced bullishly after testing the bullish trend line yesterday. This reinforces the continuation of our bullish overview for the upcoming period. Stochastic continues providing a positive signal on the four-hour time frame helping the price move towards our main awaited target at 1,400.00. Note that a break of the 1,343.50 level will push the price to test the most important support for the short-term trading at 1,303.58 before any new attempt to rise.

The expected trading range for today is between the 1,343.50 support and the 1,390.00 resistance.