The Gold price gave us a reversal formation in the daily chart. The Gold price could have made a short-term bottom and we should expect the Gold price to bounce at least towards $1,190-$1,210 area. Gold bulls should feel more comfortable on a break above $1,183.

The European session looks to be rather quiet. Traders will get acquainted with the trade balance in the euro area and the data on the British retail sales. In the afternoon we will have a series of data from the USA and Canada. Wall Street is concerned about the longest correction of the DJIA index for over 50 years. At night, data from Japan and Australia were published.

Gold price has overshot below the lower wedge boundary and is forming a bullish reversal candle. Gold price moved as low as $1,160 area providing a better-than-expected sell profit from our yesterday intraday short idea once $1,193 was broken downwards.

Both European and American stock market investors ended yesterday in minor moods. Today the situation looks a bit different. In Europe, we watched the mixed closing of the trading session. The growth was made by companies from Belgium, Poland and Hungary, while declines were recorded on the French, Italian and Spanish stock exchanges. The situation is much better in the case of the US stock market.