27.04.201809:41 Forex Analysis & Reviews: Trading plan for gold for April 27, 2018

Long-term review

Essas informações são fornecidas a clientes profissionais e de varejo como parte da comunicação de marketing. Elas não contêm e não devem ser interpretadas como consultoria, recomendação de investimento ou uma oferta ou solicitação para se envolver em qualquer transação ou estratégia em instrumentos financeiros. O desempenho passado não é uma garantia ou previsão de desempenho futuro. A Instant Trading EU Ltd. não se responsabiliza pela exatidão ou integridade das informações fornecidas, ou por qualquer perda decorrente de qualquer investimento com base em análises, previsões ou outras informações fornecidas por um funcionário da Empresa, ou de outra forma. O termo de responsabilidade completo está disponível aqui.

Technical outlook:

Gold 4H chart has been presented here for a larger swing picture. After consolidating for past several weeks, the yellow metal finally peaked at $1,365.00 on April 11, 2018. Since then the story is of lower lows and lower highs and it is still expected to continue the same. Looking at the short term structure, the metal is expected to find the interim support around $1,310 levels. Besides, the the fibonacci extension of 61.8% is also seen to be around $1,313 levels, and hence bullish reversal is expected soon. Please note that this should not be considered as a trend reversal but just a corrective rally is expected for now. Looking at the wave counts, the yellow metal seems to be into its 3rd wave now, which is most likely to end soon. Conservative traders should be looking to book profits in the short term and look for opportunities higher to sell again.

Trading plan:

Aggressive traders look to go long with stop below $1,305 levels. Conservative traders please take profits on short positions taken earlier and remain flat.

Fundamental outlook:

Watch out for German unemployment rate at 03:55 AM EST today.

Good luck!

Voltar a lista

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.