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31.10.201811:30 Forex Analysis & Reviews: Analysis of Gold for October 31, 2018

Long-term review
Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Exchange Rates 31.10.2018 analysis

Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,215.00 and reached my yesterday's target. Anyway, according to the H4 time – frame, I have found that key support ($1,215.00) in on the test and that Gold got trouble to break it, which is a sign that selling at this stage looks risky. My advice is to watch for buying opportunities if you see a breakout of the supply trendline. The upward target is set at the price of $1,230.80. Anyway, if you see breakout of the key support, watch for further downside.

Petar Jacimovic
Analytical expert of InstaForex
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