News :

IMF says Asia will suffer zero economic growth this year

Asia's economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an "unprecedented" toll on the region's service sector and major export destinations, the International Monetary Fund said on Thursday. The IMF expects a 7.6% expansion in Asian economic growth next year on the assumption that containment policies succeed, but added the outlook was highly uncertain.

Technical analysis:

Gold has been upwards as I expected. The price tested the level of $1.731 and is heading to test our upward targets. My upward targets are set at the price of $1.748 and $1.785.

Trading recommendation:

Watch for buying opportunities on the dips with the upward targets at $1.748 and $1.785.

MACD oscillator is showing positive reading and seems like that buyers are picking up momentum again.

Resistance levels are set at the price of $1.748.

Support level is set at the price of $1.707.