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18.01.202214:42 Forex Analysis & Reviews: Analysis of Gold for January 18,.2022 - Breakout of the contraction

Technical analysis:

Exchange Rates 18.01.2022 analysis

Gold has been trading downside and there is the breakout of the contraction, which is good sign for further drop.

Trading recommendation:

Due to the breakout of the consolidation and the downside movement I see potential for further drop towards downside reference points.

Watch for selling opportunities on the rallies with the downside targets at $1,805, $1,801 and $1,790.

Key resistance is set at the price of $1,822

*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
© 2007-2022
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