Source: Forex Analysis
Since our previous analysis, gold has been moving downwards. The price tested the level of $1,276.46 in a high volume. The trend is bullish. According to the 30M time frame, I found rounding bottom (saucer pattern) and also there is flat horizontal base. I found that the high volume value area from yesterday is at the price of $1,308.00. The level of $1,308.00 is the target profit for today.
Daily Fibonacci pivot points:
Trading recommendations for today: Be careful when selling and watch for buying opportunities.
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