12.12.201915:13 Forex Analysis & Reviews: Gold 12.12.2019 - Both upward targets reached, potential for consolidation day

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Gold has been trading upwards, exactly what I expected yesterday. Gold reached both of my upward targets from yesterday at the price of $1.469 and $1.479. I do expect today consolidation day or potential downward correction towards support at $1.469

In case of the breakout of $1.479, there is potential test of $1.483

MACD oscillator is showing upside momentum and reading above the zero, which is sign that buyers are still in control.

Stochastic oscillator is showing overbought condition and potential for downward correction.

Back to the list

Open trading account

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