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25.01.202408:51 Forex Analysis & Reviews: Tips for trading gold

Gold prices plummeted to the weekly low as dollar demand rose after the US released activity data on its manufacturing sector.

Exchange Rates 25.01.2024 analysis

Looking at this situation, market players could open long positions from a pullback to a breakdown, setting stop loss at 2010. Take profit upon the breakdown of 2038 and 2063.

Exchange Rates 25.01.2024 analysis

The trading plan follows the framework of the "Price Action" and "Stop Hunting" strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.

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

Andrey Shevchenko,
Analytical expert of InstaSpot
© 2007-2025
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