The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
US government bond yields are declining and the US dollar index is making a technical correction. These data make investors take refuge in gold thus giving it the opportunity to rise and consolidate above the 200 EMA and above the 21 SMA.
Gold has a negative correlation with US government bond yields. As these bonds have been going down these days, gold has obtained positive yields reflecting the better mood of the market. The yield on 10-year Treasuries has been declining to 1.47% after testing 1.50% before opening.
The short-term technical outlook for gold looks on the positive side. As long as it remains above the 200 EMA on the 4-hour chart it is likely that it could continue to rally to the final target at 1,850 (61.8% of Fibonacci).
The 1812 zone is acting as strong resistance. In recent days, gold has stopped its upward movement and is consolidating below this area. A sharp breakout and a consolidation on the 4-hour chart above 1,812 could accelerate the bullish move through 1,828.12 and 1,84375.
On the chart, you can see the Fibonacci expansion indicator from the low of 1,721 to the high of 1,876 which the result of this correction is located in 1,850. This level of 61.8% of Fibonacci will be the final objective if the gold is it remains above 1,796.
On the other hand, if in the next few days, the gold returns to the negative zone of 1,790 it is expected that there will be a fall until 1,781 and until 1,765.
The eagle indicator is showing a positive signal for gold moving above an uptrend channel. Any correction in the next few days towards 1,802 (21 SMA) or 1,796 (200 EMA) will be considered as an opportunity to open long positions.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
