empty
 
 
in
सहायता
तुरंत खाता खोलना
ट्रेडिंग प्लेटफॉर्म
जमा/ निकासी

17.11.202318:16 विदेशी मुद्रा विश्लेषण और समीक्षा: Gold: leg higher paused, more declines below 1,978

The price of gold crashed after reaching the 1,993 high today. Now, it's trading at 1,982 at the time of writing and it seems heavy. Still, a deeper drop is far from being confirmed. The bias remains bullish as the Dollar Index is bearish.

Fundamentally, the US reported positive data today. The Housing Starts came in at 1.37M versus 1.35M expected, while Building Permits jumped from 1.47M to 1.49M even if the traders expected a potential drop to 1.45M.

XAU/USD Rising Wedge!

Exchange Rates 17.11.2023 analysis

Technically, XAU/USD failed to stay above the historical level of 1,988 and now it has turned to the downside. Its failure to retest the Rising Wedge's resistance announced exhausted buyers.

Now, it has reached 1,978 static support. As long as it stays above this downside obstacle and above the uptrend line, the yellow metal could resume its growth.

XAU/USD Forecast!

Testing and retesting 1,978 and the uptrend line, registering false breakdowns may announce a new bullish momentum. Jumping above 1,988 may announce further growth.

Dropping and closing below 1,978 activates more declines and is seen as a selling opportunity as the rate could drop also below the uptrend line.

*यहां पर लिखा गया बाजार विश्लेषण आपकी जागरूकता बढ़ाने के लिए किया है, लेकिन व्यापार करने के लिए निर्देश देने के लिए नहीं |

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.

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.