FX.co ★ Analysis of Gold for April 27,.2021 - ABC downside correction completion and potential for upside continuation towrads $1.795

Germany lifts 2021 GDP growth forecast to 3.5% from 3.0% previously

Further Development

Analyzing the current trading chart of Gold, I found that there is potential completion of the downside correction ABC but also horizontal consolidation.

My advice is to watch for buying opportunities if the Gold breaks the resistance pivot at $1.785.

The upside targets are set at the price of $1.795 and $1.797.

Stochastic oscillator got the fresh bull cross, which is another sign for further upside movement.