Technical analysis:
Gold has been trading sideways at the price of $1.738. The level at $1.738 is key Fibonacci confluence and strong support, which is good sign for the further upside continuation from this area.
Trading recommendation:
Due to the rejection of the Fibonacci confluence at $1.735 in the background, I see potential for further upside movement.
Watch for buying opportunities with the first upside objective at $1.785
MACD oscillator is showing bullish divergence together with Stochastic oscillator, which is another good sign for further upside movement.
