Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
XAU/USD is trading around $4,846, reaching the 61.8% Fibonacci retracement level ($4,920) drawn from its high of $5,440 to its low of $4,080. Gold is expected to remain under downward pressure below $4,920.
According to the daily chart, signs of exhaustion in the bullish momentum are evident, and a technical correction is likely in the coming hours toward the 50% Fibonacci retracement level around $4,810, or the instrument could even reach the 7/8 Murray level around $4,687.
Given that gold has upside potential, a pullback toward $4,750 could be considered an opportunity to open long positions in the coming days, with targets at the 61.8% Fibonacci retracement level around $4,920. If the upward momentum prevails, the metal could even reach the 8/8 Murray level around the psychological $5,000 mark.
Gold has upside potential as it is technically trading above the 21 SMA and the 200 EMA. So, we believe it could continue rising in the coming days and even surpass $5,000.
The Eagle indicator is showing a positive signal according to the daily chart; however, any pullback in gold could be viewed as a buying opportunity. Should gold reach the 61.8% Fibonacci level and fail to consolidate above this zone, it could be seen as a clear signal to sell.
*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।
