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13.09.202212:14 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 13.09.2022 analysis

Previous trading tips in gold pointed to a price decrease towards $1675 and below. It was based on the continuation of the downward trend, as well as on the levels left unbroken by buyers at different times.

Exchange Rates 13.09.2022 analysis

Currently, there are two such levels. The first is the monthly high at $1687, while the second is the yearly high at $1675.

Today's data from the US will be decisive for the market. The official report on inflation will certainly affect the plans of the Fed on interest rates.

Exchange Rates 13.09.2022 analysis

Indicators show that there is likely a sell-off during the US trading session.

Exchange Rates 13.09.2022 analysis

There are two possible scenarios:

1. Traders will take short positions, with stop loss at $1734. Then, they will exit the market when the quote reaches $1675.

2. After the release of the US inflation report, traders will sell gold until the price reaches $1675.

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

Good luck and have a nice day! Don't forget to control the risks!

Andrey Shevchenko
Analytical expert of InstaForex
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