FX.co ★ Daily analysis of Gold for March 07, 2017

Overview

Gold price shows slight bearish bias now as a signal to resume the expected bearish bias for today. Here the price moves within the bearish bias that carries the price since the last top that was recorded at 1,263.17. Wait for visiting 38.2% Fibonacci correction level at 1,211.30. Therefore, the bearish trend will remain active for today, unless breaching 1,240.00 level. We remind you that breaking the targeted level will push the price towards more of the bearish correction that its next target located at 1,195.28. The expected trading range for today is between 1,211.30 support and 1,237.00 resistance.