Gold Is Showing The Strong Upside Momentum| FXMAG.COM

Technical analysis:
Trading recommendation:

Technical analysis:
✕

Gold has been trading upside as I expected and the price has reached the first upside objective at the price of $1.938. Anyway, I see potential for further upside movement due to the strong upside momentum.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the key resistance zone , I see potential for further growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.964

Key support is set at the price of $1.937

Advertising

Relevance up to 09:00 2023-01-27 UTC+1 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.

Peter Jacimovic

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.