While USD is getting stronger due to promising economic data, more pressure is applied on Gold.
The support rests at 1769.45 with resistance at 1789.30 which the weekly pivot point at 1829.03 is located above the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is below EMA of 100 and 200. The Stochastic is showing upward momentum, the RSI is moving in oversold area and the MACD indicator is in negative territory. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a dowward trend.
Short positions are recommended towards 17500 but there will be a growth soon.