06.07.201808:50 Forex Analysis & Reviews: Technical analysis on Gold for July 6, 2018

Long-term review

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Gold price is setting up a move higher and the trigger might be today's announcement of the NFP numbers. Gold price is expected to move towards $1,272 which is our first target and $1,286 which is our second target.

Blue line - resistance

Green line -support

Red lines -targets

Gold price has resistance at $1,258-60 and support at $1,250. Price is making higher highs and higher lows. A break above $1,260 will open the way for a move higher towards $1,272 first and $1,285 later. A break below $1,250 if it is sustained for at least 4 hours, should open the way for a move to new lows towards $1,220.

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