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

01.12.202216:17 Forex Analysis & Reviews: Short-term technical analysis on Gold for December 1st, 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 01.12.2022 analysis

Green lines -Fibonacci retracement levels

Gold price is again in a short-term bullish momentum. Price broke yesterday above the key resistance of $1,763 and provided us with a new bullish signal. Today price is challenging the 38% Fibonacci retracement and previous top at $1,785. Gold price has the potential to continue even higher towards the 50% Fibonacci retracement at $1,840. Previous resistance at $1,763 is now key support. Bulls must not let price fall below this level. A break below $1,763 will cancel any bullish scenario for a move towards $1,840. Upside potential in Gold is limited to $1,840. Between $1,800 and $1,840 we expect Gold price to complete its upward bounce that started from $1,616.

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