– Gold reversed from key resistance level 1950.00
– Likely to fall to support level 1900.00
Gold recently reversed down from the key resistance level 1950.00 (top of wave I from the start of this month) intersecting with the upper daily Bollinger Band.
The resistance level 1950.00 was further strengthened by the 61.8% Fibonacci correction of the previous downward impulse (C) from July.
Gold can be expected to fall further toward the next support level 1900.00 (low of the previous minor correction ii).
- EURCAD reversed from pivotal support level 1.4900 - Likely to rise to resistance level…
- EURUSD reversed from support level 1.1030 - Likely to rise to resistance level 1.1200…
The unwinding of the carry trade in the FX market continues, with the major safe…
Market Picture The pressure on risk assets continues, pushing the crypto market capitalisation back below…
- AUDUSD reversed from support level 0.6700 - Likely to rise to resistance level 0.6800…
- Gold reversed from support level 2475.00 - Likely to rise to resistance level 2535.00…
This website uses cookies