InstaForex - Analytics

InstaForex

719.00 6.50/10
61% of positive reviews
Real

Gold technical analysis for August 7, 2015

Gold price remains inside the triangle pattern even after the announcement of the US unemployment rate and Non-Farm Payrolls. Earlier today we saw the price bounce towards $1,098, but it pulled back down after the NFP numbers came out.

goldh4.jpg

Show full picture

Green lines - triangle pattern

Gold price remains inside the triangle pattern and below the blue long-term trendline resistance. The price tried to push above the cloud but got rejected. As long as we hold above $1,077, bulls can still hope for a bounce. Breaking above $1,105 can push the price to $1,130.

goldd.jpg

Show full picture


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