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20.09.201816:08 Forex Analysis & Reviews: Analysis of Gold for August 20, 2018

Long-term review

Exchange Rates 20.09.2018 analysis

Recently, Gold has been trading upwards. The price tested the level of $1,207.39. According to the H4 time – frame, I found a rising upward trendline and a broken bullish flag in the background, which is a sign that selling looks risky. I also found a hidden bullish divergence in the background, which is another sign of strength. The upward target is set at the price of $1,221.00.

Trading recommendations for today: watch for potential buying opportunities.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert of InstaForex
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