15.02.201313:02 Forex Analysis & Reviews: 1626.00 Remains Trend Defining Support For Gold.

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.

Technical Outlook and Chart Setups:

As seen from 4H chart view here, the yellow metal seems to be poised to test 1626.00 level before rallying. Please note, testing of highs and lows is a technically healthy sign, and not to be taken as a down trend at the moment. It is still recommended to hold long positions taken earlier till the time prices remain above 1626.00 level. A break below 1620.00 would confirm a paradigm shift in trade direction. Looking higher at the moment.

Trading Recommendations:

Hold long positions, stop at 1620.00, target open.

Good Luck !

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.