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30.12.201918:10 Forex Analysis & Reviews: Gold 12.30.2019 - Multi pivot reistance at the price of $1.515 on the test

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Gold has been trading upwards in the recent few days. I found that that Gold is at the main multi-pivot resistance at the price of $1.515 and that you should watch for the reaction around this main resistance.

Exchange Rates 30.12.2019 analysis

In case of the further upside breakout, the next upward target would be at $1.534.

In case of the stronger rejection of the main resistance at $1.515, downside target might be set at $1.495.

MACD oscillator is showing decreasing on the last upside movement and potential for the downside correction.

Yellow rectangle – Multi pivot resistance

Resistance level is seen at the price of $1.515

Support levels are set at the price of $1.508 and at the price of $1.495

Petar Jacimovic
Analytical expert of InstaForex
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