Dukascopy Bank Team
Dukascopy Bank SA
XAUUSD
During Wednesday's trading session, the rate surged to the 1,310.00 level as it was predicted. On Thursday morning, the yellow metal dropped to the 1,298.32 mark, passing through the support levels of the 55-hour and the 100-hour simple moving averages.
In regards to the near-term future, most likely, the monthly S1 at 1,295.12 will support gold to trade sideways at the 1,300.00 level for the rest of the trading session.
Besides, the 200-hour simple moving average might also support the yellow metal from the fall.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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