fxs_header_sponsor_anchor

Analysis

Chart of the day: Gold

The break higher in gold today suggest that while we trade above the 1700 level the risk if for a move higher towards the 1736 level and possibly the 200dma in the coming weeks ahead. The trend line which was broken today was measured from the highs of March 2022. The break back above the 1700 level suggests that last month’s breakdown may be false. RSI is pointing higher and does also suggest higher prices. Also, keep in mind stronger gold prices usually means weaker US Dollar.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.