empty
 
 
pt
Suporte
Abertura instanânea da conta
Plataforma de negociação
Depósito/Retirada

02.07.202114:50 Forex Analysis & Reviews: GOLD Price Analysis for 2nd July

Exchange Rates 02.07.2021 analysis

  • Gold heads towards $1,800 as markets remain cautiously optimistic.
  • Gold awaits NFP to confirm the bullish reversal despite Fed's hawkish turn.

Gold price is advancing for the third straight day on the final trading day of this week, with all eyes on the much-awaited US NFP data release to confirm the bullish reversal from two-month troughs of $1,751. The recovery in gold price is gaining traction despite the persistent strength in the US dollar against its main peers.

There are a number of important updates to note in regards to the price of Gold. First of all, the price has pierced the resistance line of the recent June high levels. Secondly, the price has revealed that it is surging in a channel up pattern. In addition, the simple moving averages are left below the bullion.

If the metal continues its surge, it is highly likely that the bullion would reach the resistance of the 1,800.00 marks. However, take into account that the price is bound to encounter resistance in the 1,790.00 and 1,795.00 levels. The price bounced off these levels throughout the previous week.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

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.

Não pode falar agora?
Faça sua pergunta no chat.