Gold technical analysis: The 38.2% ahead of a full retracement is on the cards on Dollar strength


Gold prices were grinding their ways higher on Thursday but they are yet to break the 1528/30s. Bulls need to get over there in order to continue higher. On a breakout,  bulls will look to the 127.2% Fibo target which is located around 1,560, guarding the Oct 2012 highs at 1795. However, on the downside, 1520is now key and will come under pressure on continued Dollar strength. A break there opens 1509 where price will meet the 38.2% ahead of a full retracement back below the 1500 handle to the 1480s.

XAU/USD

Overview
Today last price 1524.51
Today Daily Change 1.31
Today Daily Change % 0.09
Today daily open 1523.2
 
Trends
Daily SMA20 1458.65
Daily SMA50 1417.09
Daily SMA100 1352.88
Daily SMA200 1315.68
Levels
Previous Daily High 1526.79
Previous Daily Low 1508.46
Previous Weekly High 1510.16
Previous Weekly Low 1436.96
Previous Monthly High 1452.72
Previous Monthly Low 1382.02
Daily Fibonacci 38.2% 1519.79
Daily Fibonacci 61.8% 1515.47
Daily Pivot Point S1 1512.18
Daily Pivot Point S2 1501.16
Daily Pivot Point S3 1493.85
Daily Pivot Point R1 1530.5
Daily Pivot Point R2 1537.81
Daily Pivot Point R3 1548.83

 

 

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