Relevance up to 13:00 2022-07-15 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 background and there is the downside continuation of the bear trend, which is sign that sellers opportunities are preferable. Trading recommendation: Due to the strong short-term downside cycle, I see potential for further drop towards next important reference point. Watch for potential selling opportunities on the intraday rallies with the downside objective at $1.675. MACD is showing strong downside pressure, which is good sign for further downside continuation. Short-term resistance is set at the price of $1.743
Read more: https://www.instaforex.eu/forex_analysis/284524
