XAU/USD: on strong resistance levels

Forex analytics: Gold went up from the level of 1063.00 rising in price by 18%. Due to yesterday’s negative US news, spot price broke down strong resistance level of 1258.00 (ЕМА200 and upper line of the descending channel on the weekly chart and ЕМА50 on the monthly chart).During today’s European session the price continues to rise; however, Stochastic on the weekly chart is in the overbought zone. ...