Technical analysis:
Gold has been trading sideways at the price of $,786 but there was the fake breakout of the cluster in the backcgorund.
Trading recommendation:
Due to fake breakout of the support cluster in the background, I see potential for the upside movement.
Watch for buying opportunities with the upside target at $1,803
Stochastic is showing fresh bull cross, which is another sign and confirmation for the upside rotation.
Support is set at the price of $1,77
The material has been provided by InstaForex Company - www.instaforex.com