long as it remains above its pivot point. as long as the price holds above its pivot point, long positions are recommended with the first target at 180.70 and the second target at 181.20. in the alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 178.45. a break of this target is likely to push the pair further downwards, and one may expect the second target at 178.05. the pivot point is at 178.90.
since our last analysis, gold has been trading downwards. the price tested the level of $1,184.14 in a high volume. according to the daily time frame, we 