The precious metal has returned to a decrease in the beginning of the week, as market participants drew attention to the growth of stock markets again lost interest in safe currencies. However, the gold price remains in a maximum of 3 weeks, this helps to reduce expectations of an increase of the base rate Fed in the short term.
The trend is clearly bullish right now. Traders raise the price of gold higher and higher. The pair approached resistance 1360. Maximum session was recorded at the level of 1352.44. Resistance is located at 1360, support - at 1330.
Indicators form a buy signal. MACD is in the positive zone. Histogram rose, indicating the strengthening of customer positions. RSI Oscillator is close to overbought.
On the 4-hour chart, the tool is positioned above the 50 EMA 100 EMA and the 200 EMA. 50-EMA-EMA 100 crossed in an upward direction. Moving averages (50, 100 and 200) are moving up. Moving averages form a buy signal.
Rate of gold forecast for today
The overall picture remains bullish on gold and points to a likely increase in prices in 1360. The district is not excluded bearish correction in the region in 1330, where the 50 EMA and the 100 EMA.
Forecast Fort Financial Services