empty
 
 
fr
Assistance
Ouverture rapide de compte
Plateforme de trading
Déposer / Retirer

21.06.202112:15 Forex Analysis & Reviews: GOLD Hot Forecast for 21 June

Exchange Rates 21.06.2021 analysis

Gold price failed to clear the $1,880 resistance zone and it started a fresh decline against the US Dollar. The price broke the $1,835 support zone and entered into a bearish zone.

The bears were able to push the price below the $1,800 support zone and the 50 hourly simple moving average. The price traded as low as $1,761 and it is now correcting losses.

On the upside, an initial resistance is near the $1,780 level. There is also a key bearish trend line forming with resistance near $1,780 on the hourly chart. The main resistance is now forming near the $1,800 level. On the 1-hour chart, MACD has diverged in favor of the bulls. MACD histograms have produced higher lows, contradicting lower lows on the price chart. That bullish divergence sets the stage for a corrective bounce.

On the downside, an initial support is near the $1,762 level. The next major support is near the $1,750 level, below which the price is likely to extend its decline towards $1,732 on FXOpen.

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

Jan Novotny,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.