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04.09.201811:36 Forex Analysis & Reviews: Analysis of Gold for September 04, 2018

Long-term review

Exchange Rates 04.09.2018 analysis

Recently, Gold has been trading downwards. The price tested the level of of $1,193.20. According to the H1 time - frame I found a broken upward channel in the background, which is a sign that buying looks risky. I also found that price is trading below the Ichimoku cloud and that support level at the price of $1,195.00 was broken. Watch for selling opportunities. The downward targets are set at the price of $1,182.80 and at the price of $1,160.70.

Resistance levels:

Kijun- sen - $1,198.35

Tenkan-sen - $1,197.40

Resistance cluster - $1,195.00

Target levels:

$1,182.80

$1,160.70

Trading recommendations for today: watch for selling opportunities.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Petar Jacimovic,
Analytical expert of InstaSpot
© 2007-2024
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