AccentForex - Analytics


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    Analysis of Gold

    Analysis of Gold

    1. D1 shows that now, GOLD moving in expanding triangle. The divergent forms the third wave of correction.
    2. On the H4 can be seen that the price made a new high of the triangle and the beginning of a downward movement. At the same time, the upward trend (from 1315.33) can be considered complete. It began a downward trend.
    3. In an uptrend, which was completed (of 1315.33) built Fibonacci grid.

    4. Now the price is below the level of 61.8, this level is the average area of the downtrend (from 1315.33)
    5. Possibly further testing 61.8 Fibonacci resistance in the range between 50 and 61.8.
    6. Stochastic H4 showed the price level is below 20, indicating oversold market. Stochastic gives a buy signal. This can be confirmed as the output of correcting with pulse outside of the triangle.
    7. D1 Stochastic showed that the price in the area, close to the level of 20. It is likely that the level of 20 Stochastic, will soon be reached. This will mean that the market will be oversold, ie a buy signal.
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