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22.01.202118:55 Forex Analyse & Reviews: Gold bulls target $1,900

Gold price has started making higher highs and higher lows in the short-term. Price has made another higher low at $1,836 and is now back above $1,850 again. There is potential for Gold price to reach $1,900 next week.

Exchange Rates 22.01.2021 analysis

Green rectangle - support

Blue rectangle -target

Blue line -RSI support trend line

Red lines - Fibonacci extensions

Gold price has made an important low around $1,809 and has now broken above $1,850. As we explained in previous posts, Gold bulls need to recapture $1,850 and stay above it as this is a pivotal level. As long as price is above today's low at $1,836 then we expect a short-term upward move at least towards $1,900.

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

Uitgevoerd door Alexandros Yfantis,
Analytische expert
InstaForex Group © 2007-2021
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