FX.co ★ Daily analysis of Gold for July 27, 2016

Overview

The gold price keeps trading above the intraday bullish trend line, while facing resistance formed by the EMA50 at 1,325.00. The price needs to breach this level continue the bullish trend on the intraday and short-term bases. In general, the bullish trend scenario will be still valid and active for the upcoming sessions as long as the price is above 1,312.00 and 1,297.75 levels. The main awaited targets begin at 1,375.00 and extend to 1,400.00.

The expected trading range for today is between the 1,300.00 support and the 1,350.00 resistance.