Analysis:
Yesterday Gold spiked to 1277 then drop down to 1260 zone following the free fall of EURUSD and closed at almost low of the day . The short term is down and bearish momentum is strong now.
We expect Gold will test 1273 – 1277 zone again today and the next target will be 1240.
Forex Trading Signals:
We will watch for signals to sell Gold around 1273 – 1277 to trade in line with the current momentum today, before Non-farm payroll report.
Resistant zone:
– 1280 – 1283
– 1273 – 1277
Support zone:
– 1258 – 1260
– 1240 – 1242
ForexSignals247