Gafnn.com Daily Analysis

Gold was able to breach 1780.00 level followed by daily close above it, and this factor closing is very positive factor that solidify the expected upside trend on the short term basis.

The pair succeeded to breach above the 1.3000 level settling above it with daily close, which provides us with positive factor that supports our bullish overview.

Gold price starts today's trading with slightly positive bias starting new attempts to breach 1780.00 level, as we mentioned previously the importance of breaching this level to push the upside trend.

The EUR USD continued to fluctuate around the key level 1.2910, closing near it yesterday, while Stochastic keeps heading north on the daily time frame.

Gold keeps fluctuating in sideways' range moving now around 1770.00, while EMA50 remains supportive for the bullish wave from below.

The pair closed yesterday's trading above 1.2910 level providing positive signal that supports our bullish overview, noting that today's opening was negative to move below the mentioned level.

Gold price settled near 1780.00 after attempts to breach this level yesterday, and we can notice the clear bullish bias that supports the main positive scenario which we still expect to dominate the intraday and short term trading.

EUR USD continues to fluctuate around 1.2900 level, closing yesterday below this level, but we can notice the positive signs on Stochastic on the daily time frame, accompanied with good support coming from EMA50.

Gold found strong ceiling at the 1780.00 barrier that we still waiting for clear breach above it, as the price was forced to bounce down heading towards the main upside trend line located now at 1748.00

EUR USD ended last Friday's trading with negative pressure closing below the critical level of 1.2910, closing gradually from the main 1.2725 level that meets the EMA50.