Gold Trying to Rise on US Dollar

Gold moves tended to be positive, benefiting from building a base on 1882 support, as the current moves witness attempts to recover and consolidate above the 1901 resistance level.

Technically, we note that the 50-day moving average provides a positive motive in conjunction with the clear positive signals on the RSI on short time intervals.

From here, as long as trading remains above 1901, 61.80% Fibonacci retracement, there is a possibility that we will witness a bullish tendency in the coming hours targeting 1916, and breaking the latter extends gains towards 1634, 50.05% retracement

The re-consolidation over 1901 and 1887 puts the price under negative pressure, its initial target 1860/1867.

Warning: the level of risk is high and all scenarios are on the table in light of the US election results.

S1: 1887.00	R1: 1921.00
S2: 1867.00	R2: 1934.00
S3: 1853.00	R3: 1955.00