Gold (XAU/USD) is almost to reach the black downtrend line again. Passing and stabilize above it could signal an up reversal. The price moves sideways above 1,800 psychological level signaling that it could break out above the downtrend line.
Selling could be taken into consideration if XAU/USD stays under the downtrend line and if it drops again under the 1,800 level.
Trading Conclusion!
Buy Gold if the price reaches the 1,820 level again and use the 1,900 as a potential upside target.
The material has been provided by InstaForex Company – www.instaforex.com
Gold (XAU/USD) is almost to reach the black downtrend line again. Passing and stabilize above it could signal an up reversal. The price moves sideways above 1,800 psychological level signaling that it could break out above the downtrend line.
Selling could be taken into consideration if XAU/USD stays under the downtrend line and if it drops again under the 1,800 level.
Trading Conclusion!
Buy Gold if the price reaches the 1,820 level again and use the 1,900 as a potential upside target.
The material has been provided by InstaForex Company – www.instaforex.com
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