Gold is trading at about 3,420 in the American session, having reached and surpassed the high last seen in May around 3,443.
On May 6, there was a gap around 3,424. This gap was filled during the European session, which suggests that the euro could undergo a strong technical correction in the coming days if it consolidates below the 8/8 Murray level and could reach the 21SMA at 3,358.
It would be prudent to sell gold below 3,443, with targets on the 200 EMA around 3,301.
Gold has left a gap at 3,282 and another around 3,181. So, if the price falls below the psychological level of 3,300, we could expect it to fall to cover these price levels.
