empty
 
 
in
सहायता
तुरंत खाता खोलना
ट्रेडिंग प्लेटफॉर्म
जमा/ निकासी

03.02.202313:39 विदेशी मुद्रा विश्लेषण और समीक्षा: Trading Signal for Gold (XAU/USD) for February 3-6, 2023: sell in case of pullback at $1,927 (21 SMA - 7/8 Murray)

Exchange Rates 03.02.2023 analysis

Early in an American session, gold is trading around 1,909.77. We can see on the 4-hour chart that it is trading below the 21 SMA (1,925) and below the 7/8 Murray (1,937).

Yesterday, gold made a strong technical correction after reaching a new high around the area of 1,959. In our previous analysis, we noted that gold touched the top of the bullish channel and a technical correction followed later. We expected gold to go ahead with this sharp decline.

In case XAU/USD breaks below the psychological level of 1,900, it could continue to fall towards the 200 EMA located at 1,880 and could even fall towards the 6/8 Murray at 1,875.

Conversely, in case there is a pullback towards the weekly pivot point or the daily pivot point located around 1,925 to 1,929, it will be considered an opportunity to resume selling with targets at 1,910 and 1,880 (200 EMA).

For gold to resume its bullish cycle, we should wait for consolidation above 1,930. Then, it could reach the 1,959 zone again. It could even reach the weekly resistance at 1,966.

Our trading plan for the next few hours is to sell gold if it trades below 1,927 with targets at 1,900 and 1,875 (6/8 Murray). The eagle indicator is giving a negative signal and gold is likely to find solid support and we could wait for a technical bounce and then sell.

*यहां पर लिखा गया बाजार विश्लेषण आपकी जागरूकता बढ़ाने के लिए किया है, लेकिन व्यापार करने के लिए निर्देश देने के लिए नहीं |

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.

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.