The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Early in the American session, Gold (XAU/USD) is trading around 2,030.09, below the 21 SMA, and below the 200 EMA. On the H4 chart, we can see that gold has tried to break the downtrend channel forming since January 30. As the metal failed, we observe that it is resuming its bearish cycle.
If gold trades below 2,031 in the coming hours, it could continue to fall and reach the key support of 2,020, 2,015 and finally, the psychological level of $2,000.
On the other hand, if Bitcoin breaks sharply and consolidates above 2,035, we could revise our strategy because gold is likely to reach 2,046 and finally 6/8 of Murray at 2,062.
Gold could find good support around 2,020, giving it a new bullish momentum. The metal could try to break the 2,035 level again. If this scenario occurs, we can buy gold above 2,020 with targets at 2,046 and 2,062.
If gold breaks all the supports, both 2,020 and 2,015, then a strong bearish acceleration could occur and the price could reach the psychological level of $2,000.
Our outlook for the next few days is to sell gold below 2,031. This level is the key because it acted as a pivot pointon previous occasions. Therefore, we can use this area as a key point to sell. On the contrary, we could buy in case gold breaks above this area.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
