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16.09.202217:22 Forex Analysis & Reviews: Weekly Gold analysis for week ending September 16th, 2022.

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.

Exchange Rates 16.09.2022 analysis

New weekly lows for Gold. Price continues making lower lows and lower highs on a weekly level. Price has broken below both the 2022 and 2021 lows. Price remains under pressure as we see support levels broken. The double top at $2,070 combined with the break below $1,680, is a medium-term bearish signal that implies more downside should be expected. This week's high is key resistance for the short-term trend.

Alexandros Yfantis
Analytical expert of InstaForex
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