empty
 
 

03.04.202013:34 Forex Analysis & Reviews: Analysis for Gold 04.03.2020 - Watch for the potential breakout of the channel to confirm downside. Gold is at the major pivot at the price of $1.619

Corona virus news:

Exchange Rates 03.04.2020 analysis

China seeks to lead amid talk of 10m potential global cases

Residents of Wuhan, the Chinese city where the Covid-19 pandemic began, have been told to stay indoors and remain vigilant ahead of an easing of travel restrictions. Meanwhile, Beijing is stepping up a media campaign in the west to frame its handling of the disease as an example of global leadership.

The country's Covid-19 statistics have been called into question, but on Thursday China recorded just 31 new cases, 29 of them in people arriving from other countries.

Technical analysis:

Gold has been trading upwards.The price tested and rejected of the very important pivot level at $1.619, which is sign that there is potential for downside rotation.

I found the upward channel that is active and the eventual breakout to the downside may confirm further drop towards the levels at $1.566 and $1.515. Selling opportunities will be preferable in case of the downside break.

If you see the breakout of $1.620 level, watch for buying opportunities on the dips with the target at $1.643.

Stochastic oscillator is showing overbought condition and potential for the downside movement.

Intraday resistance level is set at the price of $1.619

Support levels and downward targets are set at the price of $1.566 and $1.515.

*Prezentowana analiza rynku ma charakter informacyjny i nie jest przewodnikiem po transakcji.

Petar Jacimovic,
Ekspert analityczny InstaForex
© 2007-2022
Zarób na rekomendacjach analityka już teraz
Zasil konto handlowe
Otwórz konto handlowe w InstaForex

Dzięki analizom InstaForex zawsze będziesz na bieżące z trendami rynkowymi! Zarejestruj się w InstaForex i uzyskaj dostęp do jeszcze większej liczby bezpłatnych usług dla zyskownego handlu.




  • 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
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    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
Nie możesz teraz rozmawiać przez telefon?
Zadaj pytanie na czacie.