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  |   Technicals

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FxWirePro: Gold breaks all the key supports and falls below $1210, intraday bias remains bearish

  • XAU/USD is currently trading around $1209 mark.
     
  • It made intraday high at $1216 and low at $1208 levels.
     
  • Gold opens flat at $1216 and falls after 3 -day holidays to $1208 marks.
     
  • Intraday bias remains bearish for the moment
     
  • A sustained break below $1208 will drag the parity down towards key support levels at $1202, $1195 and $1190 marks.
     
  • Alternatively, a daily close above $1218 will turn the bias slightly bullish and take the parity towards key resistances around $1228, $1232 and $1247 levels.


We prefer to take long position in XAU/USD around $1210, stop loss $1207 and target $1218/$1222 marks.

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