What Kind Of Opportunities Gives Gold Today?

Prices Of Gold Rose For The Third Straight Session

Technical analysis:

Gold has been trading downside during the Tokyo session and the price has been reached my main downside objective at $1.690. Anyway, Gold reacted strongly from the support and now its on the way for the upside objective.

Trading recommendation:

Due to the strong rejection of the key support at $1.690, I see further upside movement towards next upside reference point.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at $1.709 and $1.717.

Stochastic oscillator did show the bull divergence this morning, which is one of the reasons of the early morning rally.

Key support is set at the price of $1.690

 

Relevance up to 10:00 2022-09-08 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.

Read more: https://www.instaforex.eu/forex_analysis/291759

Prices Of Gold Rose For The Third Straight Session

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker operating under the brand instaforex.eu, regulated by CySec with license number 266/15.

Besides CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). InstaForex.eu has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. InstaForex.eu is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds.

InstaForex.eu offers access to around 2,500 instruments (CFDs in Stocks, ETFs, IPOs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms,trading accounts in EUR, USD, PLN, CZK, GBP.

More information at: www.instaforex.eu

Follow InstaForex.eu on:

Twitter Facebook YouTube

 

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.