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11.07.201811:31 Forex Analysis & Reviews: Fractal analysis: GOLD on July 11

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 July 11:

Analytical review on the H1 scale:

Exchange Rates 11.07.2018 analysis

For Gold, the key levels on the H1 scale are: 1265.51, 1259.40, 1256.13, 1245.49, 1242.12, 1239.59 and 1232.43. Here, we follow the downward structure formation from July 9. The downward movement is expected to continue after the breakdown of 1245.49, and in this case the target is 1242.12 near the consolidation level. Passage at the price of the noise range 1242.12 - 1239.59 will allow to consider the movement to the potential target at 1232.43 (the expected date of reaching is on July 13 - 14), we expect a rollback to the top upon touching this level.

Short-term upward movement is possible in the corridor 1256.13 - 1259.40, the breakdown of the last value is projected to build an upward structure with the target at 1265.51.

The main trend is the formation of a downward structure from July 9.

Trading recommendations:

Buy: 1256.20 Take profit: 1259.20

Buy: 1260.00 Take profit: 1265.00

Sell: 1245.20 Take profit: 1242.30

Sell: 1239.30 Take profit: 1233.00

* The presented market analysis is informative and does not constitute a guide to the transaction.

Daichi Takahashi
Analytical expert of InstaForex
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