28.07.202017:26 Forex Analysis & Reviews: Gold reached our $1,964 target

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Gold price reached new highs today. Price surpassed our bullish target of $1,964 and as we said in a previous analysis, our next target is at $2,010 now. Trend remains bullish with no reversal sign.

As we suggested in previous posts, traders should not bet against this strong up trend. Gold price is in a parabolic upward phase and we continue to consider every pull back as a buying opportunity. Gold price has just broken long-term resistance levels and trend lines and these bullish signals should not be ignored. Yes gold might make a deep pull back but there is no sign of reversal yet. It is too risky to go against the trend.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.