06.04.202013:21 Analytische Bewertungen Forex: Analysis for Gold 04.06.2020 - Major pivot resistance at the price of $1.644 on the test, watch forr potential price action around this critical resistance to confirrm further directioN

News:

Exchange Rates 06.04.2020 analysis

The ousted US inspector general of the intelligence community has said he is "disappointed and saddened" that Donald Trump fired him, but he also encouraged other inspectors general to continue to speak out when they are aware of wrongdoing.

The US president notified Congress late on Friday evening that he intended to fire Michael Atkinson, a pivotal figure in his impeachment last year, because he had lost confidence in him. On Saturday, Trump made it clear that the move had been retaliatory, telling reporters that Atkinson was a "disgrace" and had done "a terrible job" because he had provided an anonymous whistleblower complaint to Congress – a move that was required by law.

Technical analysis:

Gold has been trading upwards. The price tested the level of $1.636 Anyway, the gold is near very important resistance pivot level at $1.644.

The eventual upside breakout of the $1.644 may confirm further rise towards the $1.670 and $1.689. Buying would be preferable if this scenario happens.

The eventual rejection may confirm rotation downside towards the levels at $1.607 and $1.598. Selling would be preferable if this scenario happens.

Stochastic oscillator is showing reading above the 80 and the overbought condition..

Resistance level is set at $1.644

Support levels are set at the price of $1.607 and $1.598

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Viele Grüße,
Analytiker: Petar Jacimovic
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