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!
Early in the American session, gold is trading around 3,122, above the 21 SMA, and within the symmetrical triangle pattern formed from its all-time high at 3,149.
Recent trading suggests that gold is preparing for the most important event of this week: the US nonfarm payrolls, due for release on Friday. We believe this report could favor gold, and the price could reach 3,169 and even +1/8 Murray around 3,203.
Gold is awaiting the official announcement from the US president regarding reciprocal tariffs. This uncertainty is benefiting gold. We believe the instrument could consolidate above the 21 SMA in the coming hours.
The symmetrical triangle pattern observed on the H4 chart shows that gold could experience a strong bullish impulse to reach 3,169, where resistance R_1 is located. Below this area, a technical correction could occur.
Another scenario could be that gold breaks and consolidates below the symmetrical triangle and below the 21SMA around 3,111. Then, the target is seen at the bottom of the uptrend channel around 3,075.
Our trading plan for the coming hours is to sell gold in case of a pullback towards 3,140 or sell if the gold price falls below 3,111, with a target at 3,075.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
