Safe-Haven - Does It Exist Anymore? Will (XAUUSD) Gold Price Go Any Lower? | InstaForex

Relevance up to 13:00 2022-06-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical analysis:

Gold has been trading downsides I expected but I still see further downside movement. There is the breakout of the bear flag pattern in the background.. Trading recommendation: Due to the breakout of the bear flag pattern in the background and the impulsive downside swing in the background, I see potential for further downside movement. Watch for potential selling opportunities on the intraday rallies with the downside objectives at $1.841 and $1.830. MACD is showing downside reading and potential for the new fresh downside reading, which is sign that sellers are in control. Key resistance is set at the price of $1.870

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