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FX.co ★ Analysis of Gold for December 10,.2020 - Watch for buying opportuntiies with the target at $1.874

Analysis of Gold for December 10,.2020 - Watch for buying opportuntiies with the target at $1.874

ECB leaves key rates unchanged, expands PEPP by €500 billion until March 2022

Prior decision

  • Deposit facility rate -0.50%
  • Main refinancing rate 0.00%
  • Marginal lending facility 0.25%
  • Extends window for lowest rate on TLTROs
  • Raise total amount that counterparties will be entitled to borrow in TLTRO operations from 50% to 55% of their stock of eligible loans
  • Extends duration of April collateral easing to June 2022
  • QE to continue at a pace of €20 billion per month
  • Repo, swap lines with non-euro area central banks extended until March 2022
  • Policy measures taken today will contribute to preserving favourable financing conditions over the pandemic period
  • Uncertainty remains high, including with regard to the dynamics of the pandemic and timing of vaccine rollouts

Further Development

Analysis of Gold for December 10,.2020 - Watch for buying opportuntiies with the target at $1.874

Analyzing the current trading Gold, I found that there is strong reaction of the lows at $1,824, which is good sign for further upside movement.

Watch only for long opportunities on the pullbacks with the potential targets at $1,874 and $1,896.

1-Day relative strength performance Finviz

Analysis of Gold for December 10,.2020 - Watch for buying opportuntiies with the target at $1.874

Based on the graph above I found that on the top of the list we got Ethanol and Lumber today and on the bottom VIX and GBP.

Key levels:

Resistance: $1,874 and $1,896

Support level: $1,824

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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