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!
Gold is trading around $5,183 with an upward bias and has been consolidating in this area since February 23, after gold reached $5,260.
The outlook remains positive for XAU/USD. However, we are observing the formation of a symmetrical triangle pattern, which is likely to break on either side of this pattern and could be seen as a signal to open bullish or bearish positions.
The Eagle indicator is showing a positive signal, so we expect gold to continue rising in the coming days until it reaches the +1/8 Murray located at $5,317. The price could even rebound to its all-time high of $5,600.
If XAU breaks below $5,150 (21 SMA), the outlook could be negative for gold, and it is expected to quickly drop to the psychological level of $5,000. Gold could eventually reach the 200 EMA around $4,933.
Given that gold continues to strengthen, our trading plan is to buy in the coming days, with targets at $5,312 and $5,600.
The Eagle indicator is approaching overbought levels, so we must be very careful if XAU/USD attempts to break above its weekly high of $5,260.
If this scenario occurs and the instrument fails to consolidate above this zone, we could see this as a pullback. Then, it could resume its bearish cycle and reach the psychological level of $5,000.
*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।
