07.12.202306:37 Forex Analysis & Reviews: Trading Signals for GOLD (XAU/USD) for December 7-8, 2023: buy if breaks $2,032 or sell below $2,025 (symmetrical triangle - 200 EMA)

Esta información se proporciona a clientes minoristas y profesionales como parte de comunicación de marketing. No contiene y no debe interpretarse como asesoramiento o recomendación de inversión o una oferta o solicitud para participar en cualquier transacción o estrategia en instrumentos financieros. El desempeño pasado no garantiza o predice el desempeño futuro. Instant Trading EU Ltd. no asume ninguna representación ni responsabilidad sobre la precisión o integridad de la información proporcionada, o cualquier pérdida que surja de cualquier inversión basada en el análisis, pronóstico u otra información proporcionada por un empleado de la Compañía o de otra manera. El descargo de responsabilidad completo está disponible aquí.

Early in the European session, Gold (XAU/USD) is trading around 2,029.20 within a symmetrical triangle formed since December 5th. A strong break of this pattern will likely occur in the coming hours, which could be seen as a signal to buy if the price consolidates above 2,032.

Gold has been consolidating after the reversal from the all-time high of 2,144.46 to the low of 2,009.74. This technical correction could mean a resumption of the bearish cycle or we could expect a recovery in gold and it could reach 2,062.

The unemployment claims will be released later today and the Non-Farm Payrolls will be released on Friday. If the latter data is positive for the dollar, we could expect a sharp drop in gold followed by a technical rebound. On the other hand, if the data is negative for the dollar, we could expect a recovery in gold to 2,062 (5/8 Murray). The metal could even reach the 61.8% Fibonacci level around 2,090.

On the downside, a confirmation below the psychological level of $2,000 will change the overall uptrend and could increase the downward pressure towards $1,955 and ultimately to 1,937 (4/8 Murray).

Our trading plan for the next hours is to buy gold in case of a breakout above 2,032 and consolidation above the 200 EMA. On the other hand, in case of a sharp breakout and consolidation below 2,025, it will be seen as a signal to sell, with the target at 4/8 Murray located at $2,000.

Volver a la lista

Abra una cuenta de operaciones

¡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.