For Traders

Analytical Reviews

Technical analysis

29.07.202116:54 Forex Analysis & Reviews: Gold breaks short-term resistance

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.

As expected by our latest analysis, Gold has formed a higher low between $1,790 and $1,780 and is now moving higher. Price today has broken above the short-term resistance and is now trading close to $1,830.

Red lines - Fibonacci extensions

Gold price is moving higher. Price is expected to move towards $1,880 where we find the 100% extension of the first upward move. Gold price is in bullish trend. Confirmation of our $1,880 will come once price breaks above the recent high of $1,833, Support remains key at $1,790. Bulls do not want to see this level broken. We remain bullish Gold.

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.