HomeContributorsTechnical AnalysisXAUUSD Analysis: Surges To 61.80% Fibo

XAUUSD Analysis: Surges To 61.80% Fibo

The gold price appreciated 0.59% since Thursday’s trading session. On Friday, the yellow metal was surging upwards locating at the 1,2100.00 mark.

During Thursday’s trading session, the simple moving averages pushed the yellow metal to surge as it was expected. The gold is moving closer to the 61.80% Fibonacci retracement level, which gold should reach in next couple of days.

Moreover, the simple moving averages are trying to catch up the rate to support the yellow metal to break through the Fibonacci retracement level in the near-term future.

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Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
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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