FX.co ★ Analysis of Gold for March 18,.2021 - Potential completion of the ABC upside correction and new downside wave towards $1.700

Latest data released by Eurostat - 18 March 2021

• Prior€27.5 billion

The euro area trade surplus narrowed in January as exports fell by 2.9% m/m while imports fell by 1.3% m/m. Trade conditions are still relatively mixed in recent months, as they are gradually still on the path to recovery towards pre-virus levels.

Further Development

Analyzing the current trading chart of Gold, I found that there is completion of the ABC upside correction and potential for the another downside wave.

Key Levels:

Resistance: $1,750

Support levels:$1,701 and $1,679.