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Gold still under pressure at the moment....Heading again back to 1212 at the moment...1200 is acting like a major pivot point from where a support of 1187 or 1170 can be reached...If we have positive news on USD ISM Manufacturing PMI data. So, let's see where Gold reaches today. Euro zone did have some good news which also made Gold go up with some positive PMI data. Today Usd PMI data will be the focus so some volatility for Gold and Euro zone is expected in my view. Bad news for usd will allow euro and gold to rise again like 50pips. That means we can say Gold could have a resistance near 1250 if bad usd news comes. So let's see what happens :p
Gold still under pressure at the moment....Heading again back to 1212 at the moment...1200 is acting like a major pivot point from where a support of 1187 or 1170 can be reached...If we have positive news on USD ISM Manufacturing PMI data. So, let's see where Gold reaches today. Euro zone did have some good news which also made Gold go up with some positive PMI data. Today Usd PMI data will be the focus so some volatility for Gold and Euro zone is expected in my view. Bad news for usd will allow euro and gold to rise again like 50pips. That means we can say Gold could have a resistance near 1250 if bad usd news comes. So let's see what happens :p
