FX.co ★ Daily analysis of Gold for December 26, 2017

Overview

The Gold price continued its bullish rally to reach the thresholds of the first waited target at 1281.17, and it returns to trade inside the main bullish channel, waiting to breach the mentioned level to confirm extending the bullish wave towards 1299.20 as a next station. Therefore, we believe that the chances are valid to continue rising in the upcoming period supported by the EMA50, noting that breaking 1263.15 will stop the suggested rise and push the price to decline again. The expected trading range for today is between 1270.00 support and 1290.00 resistance.