03.03.2021
Gold is trading above 1729.00 amid a weaker US dollar, pending the US employment data publication from ADP, as well as the values of other important economic statistics that will be released today.
Technical side:
The price is located below the middle Bollinger indicator, at the level of SMA 5 and SMA 14. RSI is below the 50% level and is gradually declining. Stoch turns down in the overbought zone.
Gold Spot rate online: monitor the price movement in real time.
Trading Idea:
If the price drops below 1729.00, it will result in a further drop to 1700.00.
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