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15.06.202213:21 Forex Analysis & Reviews: Trading tips for gold

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.

Exchange Rates 15.06.2022 analysis

Gold collapsed on Monday and Tuesday, but today rebounded ahead of the Fed's meeting on monetary policy.

Many expect the central bank to take more aggressive actions, so it is likely that the price will dip again before the end of the day.

Exchange Rates 15.06.2022 analysis

Given that there is a three-wave (ABC) pattern, where wave A represents the selling pressure for the last two days, traders can open short positions from current prices up to the 61.8% and 50% retracement levels. Set stop loss 1870, and take profit on the breakdown of 1786 and 1676.

Exchange Rates 15.06.2022 analysis

This strategy is based on the Price Action and Stop Hunting methods.

Good luck and have a nice day!

Andrey Shevchenko
Analytical expert of InstaForex
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