For Traders

Analytical Reviews

Technical analysis

29.07.201617:23 Forex Analysis & Reviews: Daily analysis of Gold for July 29, 2016

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.

Overview

The gold price settles above the EMA50 and above the bullish trend line keeping the bullish trend active for the upcoming period. Stochastic' attempts to get rid of its negativity and gain positive momentum on the intraday time frames support the chances of rise continuation on the intraday and short-term bases. Therefore, we believe that the way is open to head towards our main targets that begin at 1,375.00 and extend to 1,400.00; holding above 1,312.00 and 1,297.75 levels represents the key condition to achieve the suggested targets.

The expected trading range for today is between the 1,320.00 support and the 1,370.00 resistance.

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.