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 $5,186, around 50% of the Fibonacci retracement, showing a positive bias after reaching $5,100 during Wednesday's US session.
XAU/USD is expected to continue rising in the coming hours and could reach the 61.8% Fibonacci level, which coincides with the 21 SMA around $5,246.
If gold reaches the 61.8% Fibonacci level and consolidates below this zone, it could be seen as a signal to sell with a target at the 23.6% Fibonacci level around $5,090. The instrument could even reach the 200 EMA, which coincides with the 8/8 Murray around the psychological level of $5,000.
The outlook for gold remains bullish in the medium term, so any pullback will be seen as a signal to continue buying, as it is expected to continue rising in the coming days on the back of geopolitical tensions, as investors view it as a safe-haven asset.
A sharp break below the psychological level of $5,000 could change the outlook for gold, and we could expect it to reach the 7/8 Murray around $4,687.
The Eagle indicator is showing a negative divergence, so if the price reaches the 61.8% Fibonacci zone in the coming hours, it will be seen as a signal to open short 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।
