Forex4you - Analytics

Forex4you

514.75 7.25/10
57% of positive reviews
Real

Technical analysis for GOLD on 11.11.2015

GOLD: the downtrend has turned into consolidation

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 1535 pips Max. 1104.10
Min. 1077.00

gold1

Gold’s decline has halted at 1084.65 support and the price consolidated and pulled back up.

The price has recently broken the upper border of the descending channel at 1092.85. The exit from the channel indicates continuation of the upside correction.

Potential correction targets are situated at the two resistance levels of 1098.50, 1104.15. The test of one of these barriers will most likely trigger the rebound down and continuation of the medium-term bearish trend.

Alternative scenario:  

Downtrend from the current positions will continue if price breaks and holds below 1084.65 support. The breakout will open the way to 1077.30.

 

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

GOLD: the downtrend has turned into consolidation

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 1535 pips Max. 1104.10
Min. 1077.00

gold1

Gold’s decline has halted at 1084.65 support and the price consolidated and pulled back up.

The price has recently broken the upper border of the descending channel at 1092.85. The exit from the channel indicates continuation of the upside correction.

Potential correction targets are situated at the two resistance levels of 1098.50, 1104.15. The test of one of these barriers will most likely trigger the rebound down and continuation of the medium-term bearish trend.

Alternative scenario:  

Downtrend from the current positions will continue if price breaks and holds below 1084.65 support. The breakout will open the way to 1077.30.

 

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree