FxWirePro
Long

Gold Daily Outlook

FX:XAUUSD   Gold/U.S. Dollar
300 0 2
Gold             has retreated once again after making a high of $1225.Overall trend is till bullish as long as support $1180 holds.

Bullish invalidation only below $1180.

On the downside any intraday weakness can happens only below $1200.Below $1200 it can reach till $1190/$1180.

The short term resistance is around $1225 and any break above will extend gains till $1244 (61.8% retracement of 1307 and 1142).

Indicators (4 Hour chart)

CCI (50) - Buy

CCI (14) - Sell

Ichimoku-Neutral

Recommendation: Buy Gold             around $1195, SL $1180, Target $1225.
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