FxWirePro
Long

Gold: Buy above $1262.25

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
275 0 7
Major resistance - $1265 (Oct 10th 2016 high).

Major support - $1249 (Oct 12th 2016 low)

Gold             is trading in the narrow range between $1265 and $1249 for the three trading session. It is currently trading around $1255.

On the higher side, major resistance is around $1262.20 (34 – 4H EMA ) and any break above targets $1270 (55- 4H EMA )/$1277.

The support is at $1249 and any violation below will drag the gold             till $1241/$1226 (161.8% retracement of $1241 and 1264.93).

It is good to buy above $1262.25 with SL around $1255 for the TP of $1270/$1277.
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