FX.co ★ Analysis of Gold for September 06, 2017

Recently, Gold has been trading upwards. The price tested the level of $1,344.48 in a high volume. According to the 15M time frame, I found that buyers are in control and that Fibonacci retracement 38.2% at the price of $1,337.00 held successfuly. My advice is to watch for potential buying opportuntiies. I have placed Fibonacci expansion to find a potential upward target. I got Fibonacci expansion 61.8% at the price of $1,344.00 and Fibonacci expansion 100% at the price of $1,354.00.

Resistance levels:

R1: $1,348.90

R2: $1,353.20

R3: $1,360.00

Support levels:

S1: $1,334.60

S2: $1.330.00

S3: $1,323.15

Trading recommendations for today: watch for potential buying opportunities.