Expecting Gold to go into a buy on the hourly chart if price 1870.00 is broken. The price has acted as a strong resistance point after Friday's rise due to USD employment rate data release. If the pairing does go into a buy I am expecting retracement at price 1878.00, then to continue onward to resistance. I have based my analysis on the last time Gold saw current price points in May 2022.
Buy Entry: 1870.00
Targets: 1872.50 | 1874.50 | 1877.00 | 1881.00 | 1883.00 | 1885.50
Resistance: 1888.50
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Buy Entry: 1870.00
Targets: 1872.50 | 1874.50 | 1877.00 | 1881.00 | 1883.00 | 1885.50
Resistance: 1888.50
Be sure to like this post and let me know what you think in the comments below.
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