GOLD Analysis – Gold Still Hasn't Stopped Falling!

<p>&nbsp;Still failing to recover, gold trading continued to unnerve investors as they had to watch the price slip lower earlier in the week.</p><p><br /></p><p>The US dollar strengthened again as a factor that continued to suppress the value of gold falling to the latest lowest level since last March.</p><p><br /></p><p>Observe the price movement on the XAU/USD chart which measures the value of gold against the US dollar.</p><p><br /></p><p>As expected in the previous analysis, the price reacted at the 1830.00 zone as the decline continued again yesterday.</p><p><br /></p><p>The trend remains bearish with gold price movement still below the Moving Average 50 (MA50) barrier level on the 1-hour time frame on the chart.</p><p><br /></p><p>In the New York session, the price has reached the 1830.00 zone and the price movement has slowed for a while around that.</p><p><br /></p><p>Resuming trading in the Asian session this morning (Tuesday), the decline continued with the latest lows being reached around 1816.00 before a slight rebound in the European session.</p><p><br /></p><p><br /></p><p>However, analysts maintain a further downward trend in the price of gold with a target to reach the important level of 1800.00.</p><p><br /></p><p>It is expected that there will be an attractive reaction to the price in the vicinity, in addition to the price also recording the latest low level again.</p><p><br /></p><p>However, if the price manages to bounce back above the 1830.00 level, this will be an early sign of a possible trend change.</p><p><br /></p><p>Continued upside will target 1885.00 and 1900.00 which was the focus of last week.</p>