Permanecer 
Condiciones de negociación
Products
Herramientas
Gold has been quite impulsive with the recent bullish momentum which pushed the price above $1,420. Meanwhile, gold is trading inside a corrective range.
Due to the Fed's intention to cut the funds rate, most investors are flocking to gold as a safe haven asset at the current market situation. The IMF recently stated that the US currency is overvalued by 6% to 12% based on near-term economic fundamentals. The dollar index also 0.2%, boosting both bullion and gold futures which trade with the opposite dynamic to the US dollar. A strong employment report from the US this month assured the market to rule out a 50-basis-point cut at the July 30-31 meeting.
Gold's biggest decline this week occurred on Tuesday as a stronger-than-expected reading of US retail sales suggested that the Fed may not hurry to ease monetary policy. Moreover, legendary investor and trader Ray Dalio currently sees gold as a key asset as central banks get more hawkish with monetary policy. Such rhetoric devalues national currencies and is likely to cause a paradigm shift in investing. This was great news for gold bugs, as the price of gold jumped higher in response to Dalio's post. Gold gained 0.7% to trade at near $1,421 an ounce. Analysts expect the gold price to continue a rally in the coming days.
TECHNICAL OVERVIEW:
The price is currently retracing towards the dynamic level of 20 EMA after pushing higher towards $1,430. A retracement along the way is expected to open the door for upward momentum in the making. MACD moving averages are going to have a crossover that also indicates bearish pressure. No Bearish Divergence is detected to confirm any strong bearish move. The price is heading towards $1,440. If it is broken above, then $1,500 will be around the corner. As the price remains above $1,400 with a daily close, the bullish bias is expected to continue.
TECHNICAL LEVELS:
SUPPORT: 1,380, 1,400, 1,410
RESISTANCE: 1,440, 1,450, 1,500
BIAS: Bullish
MOMENTUM: Non-Volatile
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
