empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

14.08.201823:54 Forex Analysis & Reviews: Technical analysis of Gold for August 15, 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.

The Gold price is in a bearish trend and has reached our $1,193 short-term target after breaking below $1,205. Now the price is consolidating before its next leg lower to $1,180.

Exchange Rates 14.08.2018 analysis

Black lines - wedge pattern

Blue line - short-term support

The Gold price remains inside the downward sloping wedge pattern. Resistance is at $1,211. Support at $1,193 if it fails to hold, we should expect the Gold price to fall as far as $1,180 where we find the lower wedge pattern boundary.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off