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04.03.201514:22 Forex Analysis & Reviews: Gold analysis for March 04, 2015

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.
Exchange Rates 04.03.2015 analysis

Exchange Rates 04.03.2015 analysis

Overview :

Since our last analysis, gold has been trading sideways around the price of $1,205.00. Our Fibonacci retracement 61.8% at the price of $1,202.00 is on the test. According to the 4H time frame, we can observe low volatility. My advice is to watch for potential buying opportunities. We have a resistance level around the price of $1,235.00 (Fibonacci retracement 38.2%). According to the daily time frame, we have a weak supply bar in a volume below the average.

Daily Fibonacci pivot points:

Resistance levels :

R1: 1,212.03

R2: 1,216.71

R3: 1,224.627

Support levels :

S1: 1,196.91

S2: 1,192.93

S3: 1,184.67

Trading recommendations: Watch for potential buying opportunities after a retracement (buy on the dips).


Petar Jacimovic
Analytical expert of InstaForex
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