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13.08.201808:41 Forex Analysis & Reviews: Fractal analysis for GOLD on August 13

Long-term review
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.

Forecast for August 13:

Analytical review on the scale of H1:

Exchange Rates 13.08.2018 analysis

For Gold, the key levels on the scale of H1 are: 1224.43, 1219.21, 1214.61, 1211.58, 1206.05, 1202.29, 1197.59 and 1194.35. Here, the situation is in an equilibrium state. The continuation of the movement downwards is expected after the breakdown of 1206.05. In this case, the target is 1202.29. Near this level is the consolidation of the price. The breakdown of the level of 1202.00 should be accompanied by a pronounced downward movement. Here, the target is 1197.59. In the area of 1197.59 - 1194.34 is consolidation and hence, the probability of a turn towards correction is high.

Short-term upward movement is possible in the area of 1211.58 - 1214.61. The breakdown of the latter value will lead to in-depth correction. Here, the target is 1219.21. This level is the key resistance for the subsequent development of the upward trend.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 1211.60 Take profit: 1214.20

Buy: 1215.00 Take profit: 1219.00

Sell: 1206.00 Take profit: 1203.00

Sell: 1202.00Take profit: 1198.00

Daichi Takahashi
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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