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FX.co ★ Analysis of Gold for June 17,.2020 - Broken upward channel in the background and poitential for further downside movement. Downward target is set at $1.6372

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Forex Analysis:::2020-06-17T11:18:42

Analysis of Gold for June 17,.2020 - Broken upward channel in the background and poitential for further downside movement. Downward target is set at $1.6372

Corona virus summary:

Analysis of Gold for June 17,.2020 - Broken upward channel in the background and poitential for further downside movement. Downward target is set at $1.6372

The director-general of the World Health Organisation (WHO), Tedros Ghebreyesus, has praised the UK scientists behind the the first successful clinical trial of a treatment for coronavirus.

Writing on Twitter, he said they had made a "lifesaving breakthrough" with their discovery that Dexamethasone, a low-cost anti-inflammatory drug, can save lives and be used immediately to treat patients.

He added that it was important that governments continue to track, trace and isolate every case and quarantine every contact.

Technical analysis:

Trading recommendation:

Watch for selling opportunitieson the rallies with the potential targets at $1,704 and $1,672.

Stochastic got the fresh down flip, which is another sign for the downside movement.

Analyst InstaForex
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