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19.07.202211:11 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 19.07.2022 analysis

Sell-offs in gold continued near the yearly lows yesterday during the US session.

Exchange Rates 19.07.2022 analysis

As a result, a pin-bar was formed in the D1 chart, under which are buyers' stops for the past 3 days.

Exchange Rates 19.07.2022 analysis

A little lower, just below 2000, is the 2021 low, which will most likely be broken soon.

Exchange Rates 19.07.2022 analysis

In this situation, the best move is to avoid taking long positions and focusing on opening short positions at the price levels presented above.

This trading idea is based on the "Price Action" and "Stop Hunting" strategies.

Good luck and have a nice day!

Andrey Shevchenko
Analytical expert of InstaForex
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