Gold Technical Analysis for July 26, 2016.
July 26, 2016 4:32 amVideo
Latest News
- Analysis of GBP/USD pair on May 28, 2024 May 28, 2024
- EUR/USD: What could stop the growth of the euro? A hypothesis May 28, 2024
- Inflation expectations in eurozone downgraded May 28, 2024
- Trading Signals for BITCOIN (BTC/USD) for May 28-30, 2024: sell below $69,000 (21 SMA – 200 EMA) May 28, 2024
- Technical Analysis – EURUSD sets sight on 1.0900 handle May 28, 2024
- GBP/USD: Simple trading tips for novice traders on May 28th (US Session) May 28, 2024
- EUR/USD: Simple trading tips for novice traders on May 28th (US session) May 28, 2024
- GBP/USD: trading plan for the US session on May 28th (analysis of morning deals). The pound hit a new monthly high May 28, 2024
- EUR/USD: trading plan for the US session on May 28th (analysis of morning deals) May 28, 2024
- USD/JPY: trading tips for beginners for European session on May 28 May 28, 2024
- Forex forecast 05/28/2024: EUR/USD, USD/JPY, Gold, Ethereum and Bitcoin from Sebastian Seliga May 28, 2024
- EUR/USD. May 28th. The bulls intend to reach the level of 1.1000 May 28, 2024
- Trading plan for EUR/USD on May 28. Simple tips for beginners May 28, 2024
- GBP/USD. May 28th. The pound sees no reason to stop at its current level May 28, 2024
- USD/JPY: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- Video market update for May 28, 2024 May 28, 2024
- GBP/USD: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- EUR/USD: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- Low volatility across the board besides Bitcoin – Volatility Watch May 28, 2024
- Technical Analysis – EURCHF pulls back from 14-month peak May 28, 2024
Technical outlook and chart setups:
Gold is seen to be trading at
$1,316.00/17.00 levels at this moment, after having hit lows at $1,312.00
yesterday. Please note that the metal is trading/drifting sideways in a
tight range between $1,315.00 and $1.323.00 levels. The yellow
metal might still unfold a countertrend rally towards $1,350.00/60.00 levels
going forward, but needs to at least break above $1,330.00 levels to confirm.
The wave structure also indicates that the drop from $1,375.00 through
$1,310.00 levels is an impulse (5 waves), and hence a countertrend rally is most
probable to unfold. Bulls would want to remain in control till prices stay
above $1,310.00 levels. Please also note that the metal might
drop to $1,305.00/07.00 levels before reversing. It is hence recommended to
remain long (aggressive trade setup) for now with risk below $1,310.00 levels.
Immediate support is seen at $1,310.00 levels, while resistance is at $1,334.00
levels respectively.
Trading recommendations:
Remain long, stop below
$1,310.00, targeting $1,350.00.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: