• FxWirePro: Gold levels to watch (us session)

    Source: FxWire Pro - Technicals / 15 Oct 2019 14:47:03   Europe/London

    Gold is trading lower in US session and lost more than $8 on US-China trade optimism.US dollar index has formed a bottom around 98.20-25 level and jumped nearly 40 pips. Any break above 98.60 confirms intraday bullishness, a jump till 99/99.35. The yellow metal hits an intraday low of $1487.03 and is currently trading around $1488.17.

    US 10-year bond yield rose more than 2.5% and any break above 1.767% confirms minor bullishness.

    Major intraday support to be watched -$1480 and any break below targets $1469/$1458.Minor weakness only below $1458. 

    Resistance -The yellow metal is facing strong intraday resistance around $1500 and any break above targets $1515/$1525. 

    Additional Levels

    $1445 (38.2% fib)

    $1414 

    $1390 (38.2% fib)
     

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