Market is moving upward without confirmed uptrend, therefore a halt may take place at any moment. Right now gold is getting ready to test resistance 1720.35. If it proves broken, we might get a recovery to the next strong level 1738.00 (black arrow).
If bulls fail to pass the 1720.35 barrier, a start of new downswing in direction 1700.00 and 1690.71 would be a reasonable option.
Main scenario: Growth to 1720.35 and further recovery of the quotes in direction 1738.00.
Alternative scenario: Touch of 1720.35 and following downward reversal in direction 1700.00.
Above 1720.35 - longs to 1738.00.
Below 1720.35 - shorts to 1700.00.
№1 Forex Bonus that guarantees to protect your funds during drawdowns and gives +100% to the deposit! Take advantage of the bonus and get the following benefits: +100% to the deposit! 100% drawdown protection No expiration period
Share with others how you trade with FortFS during quarantine and get 50 USD. Works are accepted from 02 to 12 April, 2020 in photo or video format. Authors of 10 most creative works will get money prizes. Preference will be given to funny, interesting and original works in good quality.