For Traders

Analytical Reviews

Technical analysis

06.07.201808:50 Forex Analysis & Reviews: Technical analysis on Gold for July 6, 2018

Long-term review

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 is setting up a move higher and the trigger might be today's announcement of the NFP numbers. Gold price is expected to move towards $1,272 which is our first target and $1,286 which is our second target.

Blue line - resistance

Green line -support

Red lines -targets

Gold price has resistance at $1,258-60 and support at $1,250. Price is making higher highs and higher lows. A break above $1,260 will open the way for a move higher towards $1,272 first and $1,285 later. A break below $1,250 if it is sustained for at least 4 hours, should open the way for a move to new lows towards $1,220.

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.