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18.05.201808:35 Forex Analysis & Reviews: Fractal analysis: GOLD on May 18

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 forecast for May 18:

Analytical review on the scale of H1:

Exchange Rates 18.05.2018 analysis

For Gold, the key key levels on the H1 scale are: 1304.79, 1302.97, 1298.88, 1295.70 and 1286.41. For this tool, we follow the local top-down cycle from May 11th. At the moment, the price is near the limit values for this structure so we expect a rollback into correction and the formalization of the initial conditions for the upward cycle.

Short-term movement towards the top is possible in the area of 1295.70 - 1298.88. The breakdown of the last value will lead to in-depth movement. Here, the target is 1302.97. The range of 1302.97 - 1304.79 is noise. Before reaching this level, we expect the initial conditions for the upward cycle to be formalized.

The main trend is the local structure for the bottom of May 11.

Trading recommendations:

Buy: 1297.70 Take profit: 1298.80

Buy 1296.00 Take profit: 1298.00

Sell: Take profit:

Sell: Take profit:

Daichi Takahashi
Analytical expert of InstaForex
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