FX.co ★ Daily analysis of gold for October 21, 2016

Overview

Gold price continues to fluctuate around the EMA50, while stochastic begins to provide positive overlapping signal on the 4H time frame. These factors support our main bullish trend overview which depends on the stability above $1,249.94. Our main target starts at $1,297.74. We remind you that breaching the targeted level will push the gold price towards $1,340.00 followed by $1,375.00 on the near term basis. The expected trading range for today is between $1,249.94 support and $1,285.00 resistance.