Upswing is developing without direct long-signal, that may drive to constant turns of the market into correction or even deepening of downswing to the 1516.00-1518.72 region (watch the black arrow). Such scenario could be considered in case the quotes will break the last local low (1539.34). So far the major option is continuation of growth (watch the red trajectory).
Local structure is trending up and it will keep its status until the support 1545.51 isn’t broken (watch the black and blue arrows). If bulls make a spurt, the gold might recover towards 1573.70-1578.00. And move under 1545.51 will drive to second testing of 1539.34.
Main scenario: Downward pullback to 1545.51 and then start of new upswing in direction 1573.70-1578.00.
Alternative scenario: Decline to 1539.34.
Above 1545.51 - longs to 1573.70-1578.00.
Only from November 02nd, 2020, to January 04th, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]
Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! 🏆 Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts 📍 How to get the bonus: 1) Register an […]