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08.09.202115:34 Forex Analysis & Reviews: GOLD Hot Forecast on 8 September, 2021

Exchange Rates 08.09.2021 analysis

At mid-day on Tuesday, the price of gold slipped below the 1,800.00 level. During early Wednesday's trading, the price was fluctuating in the 1,795.00/1,800.00 range. It could be observed that round price levels were impacting the metal.

If the metal manages to pass the resistance of the 1,800.00 level, a surge could find resistance in the 200-hour simple moving average near 1,810.00 and the 55 and 100-hour simple moving averages near 1,815.00.

Meanwhile, a decline below the 1,795.00 level might look for support in round price levels. For example, throughout August the 1,785.00, 1,780.00 and 1,775.00 levels served as support.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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