empty
 
 
27.09.2023 09:56 AM
Analysis of Gold for September 27, 2023 - Potential for the further downside movement

Technical analysis:

This image is no longer relevant

EUR/USD has been trading downside and I see strong downside trend and momentum, which is good sign for the further downside continuation.

Due to the downside momentum and no major sign for the reversal, I see potetnial for the further drop towards lower reference.

Downside objective is set at the price of 1.0525

RSI oscillator is showing negative reversal in the downside trend, which is good sign for the further downside movement.

Key resistance is set at the price of 1.0575

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback