is trading above its pivot point. it is likely to trade in a higher range as far as it remains above its pivot point. as long as the price is keeping above its pivot point, a long position is recommended with the first target at 174.95 and the second target at 175.90. in an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 173.25. a break of this target would push the pair further downwards and one may expect the second target at 172.90. the pivot point is at 173.75.
since our last analysis, gold has been trading downwards. the price 