Gold prices prepare to jump as US-China trade war returns

On the daily chart, Gold (XAUUSD) prices look to retest the support level around 1680 for a final confirmation before rallying up to challenge the swing high at 1750. The catalyst for a spike in Gold could be the US-China trade war, on top of the Coronavirus pandemic.

On H1 timeframe, a test of the resistance zone formed by the day high from previous day and the non-regular trading hours (RTH) high could form a short entry for a quick swing trade to the downside. The strategy for identifying support and resistance for day trading is…