For Traders

Analytical Reviews

Technical analysis

20.03.202310:25 Forex Analysis & Reviews: Analysis of Gold for March 20,.2023 - Extreme bullish condiiton, potential for the further upside movement

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.

Technical analysis:

Gold has been trading upside this morning and I found that Gold is the very strong upside momentum and there is the chance for the multi year highs to be on the test.

Due to the strong momentum to the upside and breakout of the 2 month high, I see potential for the further upside movement and test of multi year highs.

Upside objectives set at $2.068

Stochastic oscillator is showing fresh bull cross, which is another good sign for the further upside movement.

Key longer term support is set at $1.805

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.