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10.07.201514:40 Forex Analysis & Reviews: Gold : analysis for July 10, 2015

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.

Exchange Rates 10.07.2015 analysis

Exchange Rates 10.07.2015 analysis

Overview:

Gold has been trading sideways around the level of $1,161.00. According to the daily time frame, we can observe neutral bar (indecision) in a volume above the average. According to the H1 time frame, we can observe a weak price action and lower volatility on the market. Selling still looks risky at this stage because of support at $1,157.00. There is a chance that the price will come back into our major trading rage between $1,162.00 and $1,231.00. The short-term trend is neutral.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,165.00

R2: 1,168.00

R3: 1,172.00

Support levels:

S1: 1,156.00

S2: 1,153.00

S3: 1,149.00

Trading recommendations: Indecision market. Be careful when selling around the level of $1,160.00 since we got support level around $1,157.00.

Petar Jacimovic
Analytical expert of InstaForex
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