Daily Price Outlook
Gold is steadily rising and currently hovering around the $2010.00 level. The goal is to reach higher positive targets, with the next station being $2040.00. The EMA50 supports the bullish wave within the bullish channel on the chart. If the price breaches the $2010.00 level, it will become easier to achieve further gains on both intraday and short-term bases.
However, if the price drops below $1990.00, the positive scenario will end, and a correctional bearish wave will start.
The projected trading range for today falls between the $1990.00 support and $2025.00 resistance.
Gold (XAU/USD) Trade Idea
Entry Price – Sell Below $2012
Stop Loss – $2018
Take Profit – $2001
Risk to Reward – 1 : 1.80
Profit & Loss Per Standard Lot = +$1,100./ -$600
Profit & Loss Per Micro Lot = +$110/ -$60
Related:
* EUR/GBP Price Analysis – April 12 2023
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