Gold Price Forecast: XAUUSD could aim to reclaim $1,800 mark – Confluence Detector – by hareshmenghani Gold Commodities Confluences XAUUSD
ajectory lifts the XAUUSD to its highest level since August 18, around the $1,766 region during the first half of the European session.
On the flip side, the $1,757-$1,756 area - Previous High 1-Day - now seems to protect the immediate downside ahead of the $1,745 level - Fibonacci 23.6% 1-Day. A convincing break below might prompt some technical selling and accelerate the corrective slide, dragging gold to the $1,730 region - Previous Month High. The latter should act as a strong base for the XAUUSD, which if broken decisively could probably negate prospects for any further appreciating move.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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