Technical analysis of Gold for March 24, 2015
March 24, 2015 7:00 amVideo
Latest News
- Analysis of EUR/USD pair on May 2nd. The market calmly responded to the FOMC meeting May 2, 2024
- Technical Analysis – GBPJPY returns to pre-intervention levels May 2, 2024
- JPY terrifies traders May 2, 2024
- Fed makes tough decision May 2, 2024
- USD/JPY: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- EUR/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: trading plan for the US session on May 2nd (analysis of morning deals). The pound was pushed below 1.2521 May 2, 2024
- EUR/USD: trading plan for the US session on May 2nd (analysis of morning deals). Euro bought around 1.0700 May 2, 2024
- EUR/USD. May 2nd. US statistics disappoint once again May 2, 2024
- Technical Analysis – EURUSD capped by 20-day SMA as rebound falters May 2, 2024
- Forex forecast 05/02/2024: EUR/USD, USD/JPY and Gold from Sebastian Seliga May 2, 2024
- USD/JPY: trading tips for beginners for European session on May 2 May 2, 2024
- GBP/USD: trading tips for beginners for European session on May 2 May 2, 2024
- EUR/USD: trading tips for beginners for European session on May 2 May 2, 2024
- Market Comment – Dollar slides as Powell rules out rate hikes May 2, 2024
- RBA decision: will a rate hike be back on the table? – Preview May 2, 2024
- Video market update for May 02, 2024 May 2, 2024
- Technical Analysis – Bullish pressure in AUDUSD lingers May 2, 2024
- Key events on May 2: fundamental analysis for beginners May 2, 2024
Technical outlook and chart setups:
Gold is trading at the level of $1,187.00 for now, right at the trendline resistance. Furthermore, a bearish evening star candlestick pattern has appeared as well. A bearish reaction could drag the metal lower. It is recommended to take profits on long positions taken earlier and remain flat for now. Immediate support is seen at $1,180.00, followed by $1,160.00 and $1,140.00 while resistance is seen at $1,210.00, followed by $1,225.00 respectively. Bulls need to push through the level of $1,225.00 to remain in control from here on.
Trading recommendations:
Take profits from earlier long positions and remain flat.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: