empty
 
 

Forex Analysis & Reviews: Gold's price bounces towards our short-term target.
time 29.09.2022 10:27 AM
time Relevance up to, 30.09.2022 10:27 AM

This image is no longer relevant

Red lines- bearish channel

Green lines- bullish RSI divergence

In our previous analysis we warned bears that there are increased chances of a bounce in Gold price towards $1,660-70. Price was trading very close to the lower channel boundary and the RSI was providing bullish divergence signals. Gold price yesterday spiked higher towards $1,662. Price has not reached the upper channel boundary yet and therefore there is still some upside potential. A move higher towards $1,675 is justified but not necessary. Will Gold price remain inside the downward sloping channel? As long as this is the case we remain bearish. Channel and horizontal resistance is found at $1,670-75 area. This could be seen as another selling opportunity as price is trading close to key short-term resistance levels. A break above $1,670-75 will most probably open the way for a bigger bounce towards $1,700-$1,730.

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
    THAM GIA CUỘC THI
  • Ferrari từ InstaForex
    Nạp tiền vào tài khoản của bạn với ít nhất 1.000
    tham gia cuộc thi và giành chiến thắng Ferrari
    F8 Tributo
    THAM GIA CUỘC THI
  • Tiền gửi lần truy cập
    Gửi vào tài khoản của bạn 3.000 đô la và giành được 1.000 đô la
    THAM GIA CUỘC THI
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
    NHẬN THƯỞNG
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
    NHẬN THƯỞNG
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
    NHẬN THƯỞNG

Recommended Stories

Technical analysis for AUD/JPY

AUD/JPY The chart screenshot displays the AUD/JPY quotes through 11/30/2022 on the 4-hour chart (H4). Currency pairs, like the one on the chart, are of interest for technical analysis during

11:08 2022-11-30 UTC+2

First FTX Hearing in the US, Cryptocurrency Regulation Will Not Bypass Europe

The collapse of FTX and its implications for the entire ecosystem of the crypto sector prompted lawmakers around the world to pay more attention to the regulation of the nascent

Irina Yanina 10:56 2022-11-30 UTC+2

Forex forecast 11/30/2022 EUR/USD, USDX, SP500, Gold and Bitcoin from Sebastian Seliga

Let's take a look at the technical picture of EUR/USD, USDX, SP500, Gold and Bitcoin

Sebastian Seliga 10:44 2022-11-30 UTC+2

Will gold fall for the Fed's entreaties?

The external calm often hides internal tension. Despite gold's stabilization near $1,750 an ounce, we can't say the periods of turbulent XAUUSD quotes are far behind. The precious metal paused

Marek Petkovich 10:35 2022-11-30 UTC+2

Video market update for November 30, 2022

Watch for buying opportunities on the intraday dips

Petar Jacimovic 10:22 2022-11-30 UTC+2

Ethereum consolidated above $1,200 key level: is the path to $1,500 open?

The events of November finally plunged the market into an abyss of fear and mass capitulations. According to a report by Glassnode, whales sold more BTC and ETH coins

Artem Petrenko 10:05 2022-11-30 UTC+2

Weak US economic data could persuade the Fed to be less hawkish on it policy

Markets value today's economic data as it could have a significant impact on the decisions of the Fed in their December monetary policy meeting. The most crucial is the revised

Pati Gani 09:46 2022-11-30 UTC+2

Trading tips for EUR/USD

Yesterday's trading left a very interesting area for sellers. It can be used as a basis when doing the stop-hunting strategy. Since there is a three-wave pattern (ABC) in which

Andrey Shevchenko 09:44 2022-11-30 UTC+2

Technical Analysis of ETH/USD for November 30, 2022

Crypto Industry News: Etherum is a 'fraud' that will eventually 'explode' like FTX as Bitcoin becomes the primary global form of money According to Cory Klippsten, CEO and founder

Sebastian Seliga 09:31 2022-11-30 UTC+2

Technical Analysis of BTC/USD for November 30, 2022

Crypto Industry News: The crypto market saw a recovery last week as Bitcoin (BTC) showed resilience amid heightened uncertainty from the ongoing FTX implosion and unrest in China. After reaching

Sebastian Seliga 09:29 2022-11-30 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.