10.08.201618:20 Forex Analysis & Reviews: Daily analysis of Gold for August 10, 2016

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.

Overview

The gold price keeps trading positively and moving away from the intraday bullish trend line, supported by the EMA50 that carries the price from below. The price is likely to hit 1,375.00 levels that represent the next main station, a break of which is the key to bullish wave extension to 1,400.00 followed by 1,440.00. We remind you that holding above 1,343.50 levels will help the price rise for the rest of the day as a breach of it will push the price to the key levels located between 1,312.00 and 1,297.75 before any new attempt to rise. The expected trading range for today is between the 1,330.00 support and the 1,375.00 resistance.

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.