Trading Plan for Gold for July 24,, 2018
July 24, 2018 6:23 amVideo
Latest News
- Analysis of EUR/USD pair on May 31st. EU inflation supports the euro May 31, 2024
- Analysis of GBP/USD pair on May 31st. The PCE index also works against the dollar May 31, 2024
- USD/JPY: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- Technical Analysis – US 100 stock index might lose more in short-term May 31, 2024
- EUR/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: trading plan for the US session on May 31st (analysis of morning deals). The pound was bought in the area of 1.2706 May 31, 2024
- EUR/USD: trading plan for the US session on May 31st (analysis of morning deals). The euro continued to grow May 31, 2024
- EUR/USD. May 31st. The economic data stopped the bears again May 31, 2024
- GBP/USD. May 31st. Bears remain weak and the pound rises alongside euro May 31, 2024
- Weekly Forex Outlook: 31/05/2024 – ECB cut might get eclipsed by BoC surprise and NFP May 31, 2024
- Cryptos consolidate as spot Ether ETF excitement fades – Crypto News May 31, 2024
- Technical Analysis – USDJPY may retest 157.70 May 31, 2024
- June forecast: Dollar index poised for growth May 31, 2024
- Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report May 31, 2024
- Forex forecast 05/31/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 31, 2024
- EUR/USD and GBP/USD: Technical analysis on May 31 May 31, 2024
- Market Comment – US and Eurozone inflation data in focus May 31, 2024
- Technical Analysis – EURGBP stuck around the crucial 0.8500 floor May 31, 2024
- Technical Analysis – USDCAD meets uptrend line again and again May 31, 2024
Technical outlook:
Gold hourly chart setups look to be poised for an extended rally towards at least $1,250.00 levels if not higher. Please note that this is just a corrective rally and not a change in trend that we are expecting. The push could also move towards $1,265.00 levels before it finds resistance as shown here. Gold chart setups show that the metal has pushed 3 waves up from $1,211 through $1,235 levels and has corrected lower in 3 waves as well. A potential 5 waves rally from here could complete a flat corrective wave structure. Also please note that the metal is finding support around Fibonacci 0.618 levels for now and a bullish reversal is high probable trade direction from here on.
Trading plan:
Remain long now, $1,220.00, stop below $1,211, target is $1,250 and $1,265
Fundamental outlook:
There are no major events lined up for the day.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: