Trading Talks GOLD Oct 12
During the NFP day, GOLD made a false breakout of the key EMA 200 level, and continues to move in a narrow horizontal channel this week, creating a support zone below it. But even so, I would not close the possibility of the downtrend continuation to 1745, 1738 and 1720, even though it was broken and the price fixed above its resistance, because key EMA resistance levels can still have an impact. At the same time, the MACD has not yet given clear signals. In order to confidently start growing, the price has to go through 1760 and 1770 and then the opportunity for growth to 1785 and 1795 will open.
The daily MACD indicates a buy and now it is important to monitor the interaction with the key levels.
The narrowing of the amplitude gives the opportunity for impulsive movement.
