XAUUSD: A Technical Look At Gold Price

Inclusion of Government Bonds in Global Indices to Provide Further Support for India's Stable Currency Amid Economic Growth

Relevance up to 15:00 2022-07-08 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.

Exchange Rates 07.07.2022 analysis

 

Blue rectangle- resistance

Green lines- potential price path over the next few sessions

Gold price made a low yesterday close to $1,731 while now it is trading $10 higher. Trend is clearly bearish and with the RSI at oversold levels there are increased chances we see a short-term bounce in Gold price. A move higher by the RSI is expected to be seen over the coming sessions and some profit taking by bears, Our expectation is for Gold price to bounce higher but only as a counter trend move relative to the bigger medium-term bearish trend. Major resistance is found at $1,770-90 area and as long as price is below this level, we remain pessimistic for Gold.

Read more: https://www.instaforex.eu/forex_analysis/283601

Inclusion of Government Bonds in Global Indices to Provide Further Support for India's Stable Currency Amid Economic Growth

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