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FX.co ★ Analysis for Gold 05.11.2020 - Gold is very close to the breakout fo the symmetrical tirangle. Watch for potential buying opportuniuties in case of the upward breakout.

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Forex Analysis:::2020-05-11T12:41:39

Analysis for Gold 05.11.2020 - Gold is very close to the breakout fo the symmetrical tirangle. Watch for potential buying opportuniuties in case of the upward breakout.

Corona virus summary:

Analysis for Gold 05.11.2020 - Gold is very close to the breakout fo the symmetrical tirangle. Watch for potential buying opportuniuties in case of the upward breakout.

The mountain slopes of Aragon, a Spanish region bordering France, are one corner of Europe where there is no ambivalence about migrant farm workers. The humans want them and the sheep want them.

"We're trying to make sure these people can get here soon because the weather is getting warmer and we need to get the wool off the animals or it'll be awful," said Pedro Barato, the president of Spain's largest farming association, Asaja.

The lack of skilled sheep-shearers was acute, he said. "Normally, people come from South America – mainly Uruguay and Paraguay – to help." The wider region needs about 30,000 workers but only 5,500 have been hired, he said.

Barato said his organisation's members had always appreciated migrant labour. "We've never, ever seen it as a problem. It's quite the opposite. We're very grateful for it."

Technical analysis:

Gold has been trading sideways at the price of $1,704. Main idea from the last week is still valid. Wait for potential breakout of the symmetrical triangle to confirm further direction.

Analyst InstaForex
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