XAUUSD Gold Technical Analysis 03-02-2018

XAUUSD Gold Technical Analysis 03-02-2018

Gold is trading 1317 as of writing.

Price is below EMA 50 of the H4 Chart.

As seen in the H4 chart, Bullish Butterfly Pattern completed at 1.303. Price is testing the Fibonacci 38.2 of CD.

It is likely to test the trend line at 1323 – 1324.

If it breaks the trend line – 1.325 is the Fibonacci 61.8 – the next target will be 1331-1333.

If it fails to break, a retest of 1308 – 1304 seems possible.

XAUUSD Gold Technical Analysis Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility