Trading Gold under Brexit and Bremain scenarios

FX:XAUUSD   Gold Spot / U.S. Dollar
332 2 7
Major support - $1252 (21 day MA)

The bullion has declined slightly below 21 day EMA and is currently trading at $1262.92.

Any violation below 21 day MA will drag the pair down till $1235 (90 day EMA )/$1212 ( 38.2% retracement of $1046 and $1315.25)/$1199.

On the higher side major intraday resistance is around $1275 (7 day EMA ) any indicative break above targets $1288 (daily Tenkan-Sen)/$1300/$1315 (200 W MA)

EU referendum results are expected to hit the markets between 2 GMT             to 4 GMT             on Friday. Voting has started in EU referendum as opinion polls say result too close to call.

Polling stations will open at 6:00 GMT             and close at 21:00 GMT             .

Trading strategies if UK Stays in EU:

It is good to sell below $1252 with SL around $1275 for the TP of $1235/$1212/$1198.

Trading strategies if UK leaves EU:

It is good to buy above $1275 with SL around $1260 for the TP of $1
tp? above 1275
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