04.08.202015:02 Forex Analysis & Reviews: Comprehensive analysis of movement options for Gold & Silver (H4) on August 5, 2020

Minute operational scale (H4)

How will the battle for metal take place in the first decade of August? - Review of options for the movement of Gold & Silver on August 5, 2020.

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Spot Gold

The development of the Spot Gold movement from August 5 2020 will depend on the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1980.00 - 1966.00 - 1954.00) of the Minuette operational scale fork - the markup of the movement inside this channel is shown on the animated chart.

When the lower border of the channel 1/2 Median Line Minuette is broken - support level of 1954.00 - the downward movement of Spot Gold can be continued to the borders of the channel 1/2 Median Line Minute (1946.00 - 1930.00 - 1911.00) with the prospect of reaching the equilibrium zone (1900.00 - 1873.00 - 1845.00) of the Minute operational scale fork.

If the upper limit of the channel is broken 1/2 Median Line Minuette - resistance level of 1980.00 - the upward movement of Spot Gold will be directed to the goals:

• initial SSL line (1990.00) of the Minute operational scale fork;
• control line UTL Minute (2005.00);
• initial SSL line (2030.00) of the Minuette operational scale fork;
• warning line UWL38.2 Minute (2045.00).

Details of the Spot Gold movement since August 5, 2020 can be seen on the animated chart.

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Spot Silver

The development of the Spot Silver movement from August 5, 2020 will be due to the development and direction of the breakdown of the boundaries of the equilibrium zone (24.750 - 24.100 - 23.450) of the Minute operational scale fork - details of movement within the specified balance zone are shown on the animated graph.

A breakdown of the support level of 23.450 at the lower border of ISL61.8 equilibrium zone of the Minute operational scale fork will make it possible to update the local minimum 22.860-22.235 with the subsequent achievement of Spot Silver of the final FSL Minute line (21.400).

If the resistance level of 24.750 is broken at the upper border of the ISL38.2 equilibrium zone of the Minute operational scale fork, the upward movement of Spot Silver can be continued to the borders of the 1/2 medium Line Minute channel (25.150 - 25.550 - 26.010) with the prospect of updating maximum 26.150.

Details of the Spot Silver movement options from August 5, 2020 are shown in the animated chart.

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The review is compiled without taking into account the news background, the opening of trading sessions of the main financial centers and is not a guide to action (placing "sell" or "buy" orders).