The sellers in today’s European trading session forced the metal even lower, as the price is currently oscillating, almost touching the 1192.47 level.
Today’s Euro group meeting outcome will highly likely exert further bearish pressures on the metal, and therefore the price could decline lower toward 1172.64 and 1161.85 respectively.
Alternatively, in the scenario where the buyers exert greater pressures and the metal re-escalates toward 1199.67, the price could aggresively appreciate higher at 1211.31.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.