FXHighway
Long

Gold awaits more positive target

FX:XAUUSD   Gold Spot / U.S. Dollar
58 0 5
Target: 1388.00
Risk: 1303.62

Technical reasons:

Gold             price achieved strong gains to breach 1303.62 level and touch our waited target at 1350.00, approaching from retesting 1303.62 level that turns into support line now, at the time that stochastic gains the positive momentum gradually.

The exponential moving averages 50 and 100 continues to support the price positively, to keep the bullish trend organized inside the bullish channel that appears on chart, and the next target at 1388.00 followed by 1420.00.


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