FX.co ★ Analysis of Gold for January 05,.2023 - Key support zone at the price of $1.848 is on the test

Technical analysis:

Gold has been trading downside overnight and strong support zone at the price of $1.849 is on the test. Watch for the price action to around this key support zone to confirm further direction....

Trading recommendation:

In case of the rejection of the key support zone, watch for buying opportunities with the upside objectives at $1.858 and $1.863

In case of the downside breakout and hold below the support zone, watch for selling opportunities with the downside objective at $1.835