Technical analysis of gold for July 25, 2017
July 25, 2017 6:59 amVideo
Latest News
- Technical Analysis – EURUSD dives further near 1.0600 April 16, 2024
- XM 2024 Ramadan Promotion Winners April 16, 2024
- EUR/USD and GBP/USD: Technical analysis on April 16 April 16, 2024
- Key events on April 16: fundamental analysis for beginners April 16, 2024
- Overview of the GBP/USD pair. April 16th. The pound may rebound, but the flat is over, and there are no reasons for growth April 16, 2024
- Trading plan for GBP/USD on April 16. Simple tips for beginners April 16, 2024
- Trading plan for EUR/USD on April 16. Simple tips for beginners April 16, 2024
- Overview of the EUR/USD pair. April 16th. In plain text: The ECB will cut rates in June April 16, 2024
- Forecast for EUR/USD on April 16, 2024 April 16, 2024
- Forecast for GBP/USD on April 16, 2024 April 16, 2024
- Forecast for AUD/USD on April 16, 2024 April 16, 2024
- Outlook for GBP/USD on April 16. Pound awaits inflation data April 16, 2024
- Outlook for EUR/USD on April 16. Another boring Monday April 16, 2024
- The euro hardly has a chance to rise April 16, 2024
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
The Gold price is consolidating near its highs. It is very possible that we might see a move above $1,260 soon for a final new high of this move that started at $1,205. Gold bulls must be very cautious as a pull back is justified from current levels.
Blue lines – bullish channel
The Gold price is inside the bullish channel and above both the tenkan- and kijun-sen in the 4-hour chart as shown above. The trend is clearly bullish as the price is making higher highs and higher lows. There is no trend reversal signal, only warnings that this short-term trend might end soon. Support is at $1,247. Resistance is at $1,264.
On a daily basis, the Gold price is approaching the 61.8% Fibonacci retracement and the daily Kumo (cloud) resistance. Daily support is at $1,236-30. Resistance zone is found at $1,257-63.The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: