XAUUSD: Short-term technical analysis on Gold Price for June 10, 2022

FXStreet’s Dhwani Mehta Opinion About Gold Movements

Relevance up to 15:00 2022-06-11 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 10.06.2022 analysis

 

Blue rectangle- horizontal resistance

Red line -support trend line (broken)

Gold price has provided several signs of weakness since yesterday. Price failed to recapture $1,855 and instead price broke below $1,840 support level and the red upward sloping support trend line. Bears are taking control of the short-term trend. Price has made new lower lows and lower highs. Gold is expected to move lower towards $1,820-25 over the next few sessions. Resistance is now found at $1,860 and as long as price is below this level, bears will have the upper hand.

 

Read more: https://www.instaforex.eu/forex_analysis/279591

FXStreet’s Dhwani Mehta Opinion About Gold Movements

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, 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. 69.82%. 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.