14.06.202114:03 Forex Analysis & Reviews: Analysis of Gold for June 14,.2021 - First target has been reached at $1.860. Potential for drop towards $1.812

Technical analysis:

Exchange Rates 14.06.2021 analysis

Gold has been trading downside as I expected. The price reached first downside target at the price of $1.860 but with ptoetnial for further drop towards $1.812.

Trading recommendation:

Still, watch for selling opportunities on the rallies with the next downside targets at the price of $1.842 and $1.812.

The main cause of the downside movement was the breakout of the well defined upside channel.

Stochastic is showing oversold condition but with no evidence of the reversal....

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

Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2021
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