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Early in the American session, Gold is trading around 2,755, above 6/8 Murray, and with a bullish bias. As a result, we are going to see a technical correction in the next few hours towards 6/8 Murray located at 2,734 or towards the 21 SMA located at 2,723.
The technical reversal zone is located around 7/8 Murray at about 2,773. This level could offer strong resistance and we could expect gold to fall.
Technically, bullish strength is showing its exhaustion. In the next few hours, gold could likely make a technical correction below 2,760, towards Murray's 6/8 which will be seen as an opportunity to sell.
The eagle indicator is showing a negative signal. So, we will look for opportunities to sell at current levels.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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
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
From what we see on the 4-hour chart of the Nasdaq 100 index, there are several interesting things, namely, first, the price movement is moving below the MA (100), second
Early in the American session, gold is trading around 3,312 with a bullish bias after breaking out of the symmetrical triangle. Gold is now likely to continue rising
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
On the 4-hour chart, the USD/CAD commodity currency pair can be seen moving below the EMA (100) and the appearance of a Bearish 123 pattern and the position
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