Relevance up to 13:00 2022-07-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Technical analysis:
Gold has been trading downside in the past few days but I found there there is slowdown in the downside tempo and potential for the rally. Trading recommendation: Due to the potential exhaustion of the downside momentum and very tight downside channel, watch for the buying opportunities in case of the breakout of the channel. Watch for buying opportunities on the intraday dips with the upside objectives at the price of $1.750 and $1.784. Stochastic is showing oversold condition and fresh bull cross, which is sign for the further rise. Key support is set at the price of $1.720
Read more: https://www.instaforex.eu/forex_analysis/284338
