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Technical analysis:
Gold has been trading upside this morning but I found that market is still in the downside channel mode with no evidence for the any
Due to the downside channel in place and the weak demand this morning, I see potential for the further downside movement after completion fof the upside correction.
Downside objective is set at the price of $1.911
Stochastic oscillator is showing upside reading, which is sign that Gold is still in the upside correction phase.
Key resistance is set at the price of $1.920
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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The Eagle indicator is showing oversold signals, so we believe that gold could resume its bullish cycle in the short term after a technical correction and reach the psychological level
Early in the American session, gold is trading around 3,276 with bearish pressure after finding strong resistance around 3,270, a level that coincided with the 38.2% Fibonacci retracement. Gold could
Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful
Early in the American session, the EUR/USD pair is trading around 1.1358 within the downtrend channel formed on April 18. The pair is under bearish pressure. We believe the instrument
Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful
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