Technical Analysis

Gold corrects towards the 100 hour MA

NY session excessive reaches $1314.90 vs 100 hour MA at $1316.22

The value of gold has rebounded larger within the NY session.  That transfer larger has taken the worth again towards the 100 hour MA at $1316.22. The excessive simply reached $1314.90.

The value of gold has been transferring down off Thursday’s highs on the again of a stronger greenback after the US employment report.   The USD stays the strongest foreign money on the day which makes the rise a bit head scratching.  Which will assist to place a lid on the rally (with stops on a break above). 

Gold is moving back to the 100 hour MA on a corrective move higher.

ForexLive


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