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The Gold has been trading trading sideways in past 24 hours at the price of $1.408. Anyway, there is the well defined trading range between the price of $1.411 and $1.401. The potential break of up limit or down limit will define further direction. The potential break of the resistance at $1.411 would confirm test of $1.419 and potential break of the $1.408 would confirm the potential testing of $1.399-$1.386.

Exchange Rates 12.07.2019 analysis

. On the 41 time-frame I found that both MACD and Stochastic are neutral and going neutral, which is sign that there is no momentum on either direction. Watch for potential breakout of the trading range to confirm further direction.

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

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2019
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