1:15 PM
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Gold moved yesterday in the average movement of 192 PIPs, its highest level at 1200.89 and the lowest price at 1182.01 and closed at 1185.42 to lose 144 pips According to positive Existing Home Sales from USA
Gold opened today's trading at volatile between 1183 and 1188 during the Asian session trading at 5 dollars for the poor liquidity in the market range.
Gold moves in a series of up impulse waves after breaking the parallel price channel, and now the metal is touching the Rising trend line
We saw last week the gold achieved our target at 1189.
It is expected that the yellow metal is heading targeting 1195 as the target on time frame of four hours and till now we see the Bulls control on market direction and the Bears waits the first Resistance around 1189 to enter the market
And the Relative Strength Indicator "RSI" show us accumulation operations at the market
Today we could see sharp trading because of the economic data from USA
Support levels: 1177.99 and 1170.56 and 1159.11
Resistance levels: 1196.87 and 1208.32 and 1215.75
For more Technical Outlook FxStations
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