Categories: Technical analysis

Gold Wave Analysis 29 March, 2021

• Gold falling inside impulse wave (3)

• Likely to reach support level 1675.00

Gold continues to fall inside the intermediate impulse wave (3), which started earlier from the resistance level  1755.00 (former multi-month support level from November).

The price is currency approaching the support level 1700.00 (low of the previous minor correction B).

If Gold breaks the support level 1700.00  – the price will then most likely fall to the next support level 1675.00 (low of the previous intermediate impulse wave (1)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: gold

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