empty
 
 
fr
Assistance
Ouverture rapide de compte
Plateforme de trading
Déposer / Retirer

29.08.202214:00 Forex Analysis & Reviews: Analysis of Gold for August 29,.2022 - Potential for the downside continuation

Technical analysis:

Exchange Rates 29.08.2022 analysis

Gold has been trading upside this morning on Europe session but I see potential for the downside continuation of the trend.

Trading recommendation:

Due to the strong downside trend in the background and overbought condition this morning, I see further downside movement.

Watch for potential selling opportunities on the rallies with the downside objective at the price of $1.712.

Stochastic oscillator is showing fresh bear cross and overbought condition, which is good sign for further downside movement.

Resistance is set at the price of $1.730

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

Petar Jacimovic,
Analytical expert of InstaSpot
© 2007-2025
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

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.

Can't speak right now?
Ask your question in the chat.