Gold Price Drops: What’s Next?

<p>Good day!</p>
<p>The Gold price went down and approached the broken side of symmetrical triangle and psychological level of 1700.00. The asset might pull from the horizontal line and jump, targeting the level of 1900.00:</p>
<p><img class="alignnone size-full wp-image-44318" src="http://blog.tickmill.com/wp-content/uploads/2020/05/Image-1-3.png" alt="" width="1094" height="508" srcset="https://blog.tickmill.com/wp-content/uploads/2020/05/Image-1-3.png 1094w, https://blog.tickmill.com/wp-content/uploads/2020/05/Image-1-3-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/05/Image-1-3-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/05/Image-1-3-768×357.png 768w" sizes="(max-width: 1094px) 100vw, 1094px" /></p>
<p>The price of Euro is trying to close trading day with a long-legged doji, which is currently touching the resistance level of 1.0990. This is the first horizontal line away from which the currency pair might drop anytime soon. What comes to the possible pullback, the level of 1.1100 could be the second point of interest to watch for.</p>
<p><img class="alignnone size-full wp-image-44319" src="http://blog.tickmill.com/wp-content/uploads/2020/05/Image-2-2.png" alt="" width="1094" height="508" srcset="https://blog.tickmill.com/wp-content/uploads/2020/05/Image-2-2.png 1094w, https://blog.tickmill.com/wp-content/uploads/2020/05/Image-2-2-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/05/Image-2-2-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/05/Image-2-2-768×357.png 768w" sizes="(max-width: 1094px) 100vw, 1094px" /></p>
<p>The British pound approached the level of 1.2247 and the 3^rd point of downtrend. Currently, the currency pair is trying to stay below the horizontal line and form a bullish engulfing. The asset might potentially drop till the level of 1.2000 away from which it can jump:</p>
<p><img class="alignnone size-full wp-image-44320" src="http://blog.tickmill.com/wp-content/uploads/2020/05/Image-3-1.png" alt="" width="1094" height="508" srcset="https://blog.tickmill.com/wp-content/uploads/2020/05/Image-3-1.png 1094w, https://blog.tickmill.com/wp-content/uploads/2020/05/Image-3-1-300×139.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/05/Image-3-1-1024×475.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/05/Image-3-1-768×357.png 768w" sizes="(max-width: 1094px) 100vw, 1094px" /></p>
<p>The most recent market reviews can be found in our company’s blog located at <a href="http://www.blog.tickmill.com/ru/">www.blog.tickmill.com/ru/</a></p>
<p>Follow us on twitter to read some recent news, get some trading idea and much more: <a href="http://www.twitter.com/Tickmill_RUS">www.twitter.com/Tickmill_RUS</a></p>
<p><strong>Disclaimer:</strong> The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.</p>
<p><strong>High Risk Warning: </strong>CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.</p>
<p>&nbsp;</p>
<p>The post <a rel="nofollow" href="https://blog.tickmill.com/tech-analysis/gold-price-drops-whats-next/">Gold Price Drops: What’s Next?</a> appeared first on <a rel="nofollow" href="https://blog.tickmill.com">Tickmill</a>.</p>