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Daily technical analysis of GOLD By INSTAFOREX

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  #81  
Old 06-04-2016, 16:10
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, Gold has been moving downwards. The price tested the level of $1,223.87. Since the accumulation phase in the background took the place, I am still expecting the higher price on the gold. I found strong support around the price of $1,224.00. I found the previous resistance level, which became support. Watch for buying opportunities on the dips. Take profit level is set near the price of $1,236.00.

Trading recommendations for today:
watch for buying opportunties on the dips.




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  #82  
Old 08-04-2016, 01:44
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving upwards. As i expected, the price tested the level of $1,239.39 in a high volume. I found strong upward pressure today and my advice is to watch for buying opportunities. I found a successful test bar in a low volume at the price of $1,234.20, which is a sign that professional money is interested in buying positions today. The first take profit level is set at the price of $1,239.40 and the second take profit level is set at the price of $1,243.00.

Trading recommendations for today: watch for buying opportunities on dips.




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  #83  
Old 13-04-2016, 20:40
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving downwards. The price tested the level of $1,241.26 in a high volume. According to the daily time frame, I found that head and shoulders pattern (toping formation) is forming. I found lack of demand near the level of $1,261.00, and that caused sellers to step in and establish selling positions. Support level is set at the price of $1,216.50. The valid breakout in a high volume of $1,216.50 will confirm the head and shoulders formation.

Trading recommendations for today:
Be careful when buying and watch for potential selling opportunities.




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  #84  
Old 14-04-2016, 20:58
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving downwards. The price tested the level of $1,228.99 in a high volume. According to the daily time frame, I found that head and shoulders pattern (topping formation) is forming. According to the 30M time frame, I found a lack of demand near the level of $1,243.00. We can observe buying climax followed by few weak up bars (strong sign of weakness). The support level is set at the price of $1,229.00. Watch for intraday selling opportunities on rallies. The valid breakout in a high volume of $1,216.50 will confirm the head and shoulders formation.

Trading recommendations for today: Be careful when buying and watch for potential selling opportunities.




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  #85  
Old 19-04-2016, 06:31
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving upwards. The price tested the level of $1,241.43 in a low volume. According to the daily time frame, I found that the head and shoulders pattern (topping formation) is forming. I have placed Fibonacci retracement and found 38.2% at the price of $1,238.00 (successfully held). Watch for intraday selling opportunities on rallies. The first take profit level is set at the price of $1,217.00. The valid breakout in a high volume of $1,216.50 will confirm the head and shoulders formation.

Trading recommendations for today:
Be careful when buying and watch for potential selling opportunities.




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  #86  
Old 21-04-2016, 10:58
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving upwards. As I expected, the price tested the $1,259.96 level in a high volume. The price reached my first take profit level at $1,256.00. On the 15M time frame chart, I found a successful test of supply in a low volume, which is a sign that selling gold looks risky. Watch for intraday buying opportunities. Also, I found a successful breakout of the trading range and some kind of a three drive reversal pattern. There is a lack of supply around the price of $1,256.00, which is a great buying signal for professional traders. The first major short-term take profit level is set at $1,279.00.

Trading recommendations for today:
be careful when selling and watch for potential buying opportunities.




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  #87  
Old 22-04-2016, 13:23
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving upwards. As I expected, the price tested the $1,270.00 level in a high volume. Anyway, the price rejected strongly from $1,270.00 and we saw a drop and testing of $1,243.65 in an ultra high volume. According to the daily time frame, I found a strong sign of weakness. The bar closed near the low with very wide spread (range) in a very high volume. According to the 30M time frame, I found a trading range between the price of $1,243.00 and $1,253.00. Due to a strong sign of weakness in the background, watch for potential bearish breakout of trading range to confirm further downward movement. Take profit level is set at the price of $1,228.00.

Trading recommendations for today:
be careful when buying and watch for potential selling opportunities.




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  #88  
Old 27-04-2016, 20:48
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving upwards. The price tested the level of $1,247.55 in a high volume. The price had reached my take profit level at $1,231.00 before the strong bullish movement started. According to the 30M time frame, I found volume spike (ultra high volume) and a strong bullish bar (sign for strength). After the strong upward bar I found no power from sellers to react. It means that strong holders (smart money) are very strong and they are supporting the upward movement. There is ab upward diagonal trend line, which held very successfully. Watch for buying opportunities on the dips. The first take profit level is set at the price of $1,247.50 and the second take profit level is set at the price of $1,25300 (Fibonacci retracement 61.8%).

Trading recommendations for today:
be careful when selling and watch for buying opportunities on the dips




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  #89  
Old 29-04-2016, 17:28
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been moving upwards. The price tested the level of $1,280.64 in a high volume. Accorrding to the 15M time frame, I found successful testing of supply today, which is a sign that we may see an upward movement. The intraday trend is upward, so watch for buying opportunities on the dips. The level of $1,274.00 seems like a solid area to build buying positions. The first take profit level is set at the price of $1,280.50.The second take profit level is set around the price of $1,283.55

Trading recommendations for today:
Be careful when selling gold at this stage and watch for potential buying opportunities.




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  #90  
Old 04-05-2016, 05:34
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been moving sideways at the price of $1,293.00. According to the 4H time frame, I found a strong sign of weakness. Bullish bar is in a very high volume but closes in the middle. I also found a broken upward diagonal, which is a sign that buying looks risky. There is also consolidation of trading range between the price of $1,303.00 (resistance) and the price of $1,287.00 (support). I would like to see the breakout of support or resistance to confirm further direction. Since I found the weakness according to the 4H time frame, I would like to see breakout of support. The first take profit level is set at the price of $1,275.00.

Trading recommendations for today:
Be careful when buying gold at this stage and watch for potential selling opportunities.




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  #91  
Old 05-05-2016, 22:53
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been moving upwards. The price tested the $1,285.78 level in a high volume. On the 4H time-frame chart, I found broken downward channel (bullish flag) in a high volume, which is a sign that selling looks risky. On the 5M time-frame chart, I found successful testing of supply in a low volume. Watch for buying opportunities on the dips. Take profit level is set at $1,301.50.

Trading recommendations for today:
be careful when selling gold at this stage and watch for potential buying opportunities on the dips.




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  #92  
Old 10-05-2016, 04:59
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been moving downwards. The price tested the level of $1,273.57 in a high volume. According to the 1H time frame, I found a buying climax in the background (volume spike) and strong reaction from sellers, since they absorbed an upward movement. I have placed Fibonacci expansion to find potential downward stations. I got Fibonacci expansion 61.8% at the price of $1,274.00 (on the test), Fibonacci expansion 100% at the price of $1,260.50 and Fibonacci expansion 161.8% at the price of $1,240.00. According to the 1M time frame, I found downward pressure and no demand bars, which is a sign that buying Gold at this stage looks risky.

Trading recommendations for today:
be careful when buying gold at this stage and watch for potential selling opporutnities on the pullbacks.



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  #93  
Old 12-05-2016, 05:51
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving upwards. As I expected, the price tested the level of $1,274.32 in a high volume. According to the 30M time frame, I found that strength came in near the level of $1,270.00. According to the 15M time frame, I found the inverted head and shoulders formation (bottoming). The price has broke the neckline at the level of $1,271.00 and the price is ready to go higher. Be careful when selling and watch for buying opportunities on the dips. The first take profit level is set at the price of $1,280.80. The second take profit level is set at the price of $1,287.00.

Trading recommendations for today:
Be careful when selling gold at this stage and watch for potential buying opportunities on dips.




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  #94  
Old 13-05-2016, 12:08
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving upwards. The price tested the $1,276.12 level in a high volume. On the 15M time frame chart, I found upward trend channel. The price is testing lower diagonal of channel, and there has been selling power for breakout so far, which means that we may see potential upward continuation. Watch for buying opportunities. Buy positions are recommended at $1,273.00. Take profit levels are set at $1,276.00 and $1,280.00.

Trading recommendations for today:
be careful when selling gold at this stage and watch for potential buying opportunities on dips.




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  #95  
Old 13-05-2016, 12:10
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Recently, EUR/NZD has been moving sideways at the 1.6680 level. Previous analysis is still valid. According to the 30M time frame chart, there is a trading range between the 1.6666 (support) and 1.6800 (resistance) levels. Watch for a breakout of the trading range to define further direction. The upside target is set at 1.6920. In case the price breaks support, the downside target should be places at 1.6540.

Trading recommendation for today:
watch for breakout of trading range to confirm further direction.




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  #96  
Old 17-05-2016, 14:20
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving downwards. The price tested the $1,268.91 level in a high volume. On the daily time frame chart, I found a strong sign of weakness. I found a bullish bar in an average volume bit with very weak close. The bar closed below the middle, which is a strong sign of weakness. I also found a supply trend line, which held successfully. According to the 15M time frame, there is potential bearish flag formation. So, watch for potential breakout of the bearish flag to confirm further downward continuation. Targets are set at the price of $1,269.00 and $1,257.80.

Trading recommendations for today:
be careful when buying gold and watch for selling opportunities on the rallies.




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  #97  
Old 25-05-2016, 16:10
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downward. As I expected, the price tested the level of $1,220.35 in a high volume. According to the 15M time frame, I found strong downward momentum and a few up-thrust bars (supply overcame demand). I also found resistance cluster at the price of $1,222.60, which was held successfully. Buying gold at this stage looks very risky. Both targets from the previous forecast were met. The next downward target is set at the price of $1,211.00

Trading recommendations for today:
Strong downward momentum is in the market. Be careful when buying and watch for selling opportunities on pullbacks.




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  #98  
Old 25-05-2016, 16:13
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

General overview
Another marginal higher high had been made, but it looks like the wave iv is still unfolding. The corrective cycle in this wave might get more complex and time-consuming, but we still expect one more wave up to unfold after the correction is completed. The projected target of 1.3218 is still valid as well.

Trading recommendations:
All buy orders from last week should be still kept open as the target hasn't been hit yet. The projected TP is still at the level of 1.3218.




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  #99  
Old 26-05-2016, 18:49
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading upward. The price tested the level of $1,234.02 in an ultra high volume. According to the 30M time frame, I found a volume spike (buying climax) and a bullish bar with a wide range which closed in the middle. I also found no demand bars and up-thrust bar, that is a sign that sellers took control from buyers today. Watch for selling opportunities on pullbacks. Take profit level is set at the price of $1,218.00.

Trading recommendations for today:
Be careful when buying Gold at this stage and watch for selling opportunities on the pullbacks.




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  #100  
Old 31-05-2016, 15:52
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been trading upwards. The price tested the level of $1,214.08 in an average volume. According to the 30M time frame, I found a potential bearish flag formation. Watch for potential breakout of an upward channel to confirm further downward continuation. If the price breaks the level of $1,209.70, we may see a downward continuation. Take profit level is set at the price of $1.200.00. Anyway, if the price rejects from the upward diagonal, we may see potential testing of $1,215.50.

Trading recommendations for today:
Be careful when buying Gold at this stage and watch for selling opportunities on pullbacks.




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  #101  
Old 02-06-2016, 16:54
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been sideways at the price of $1,216.60. According to the daily time frame, I found a reversal candle pattern, the Morning Star formation. Notice the volume on the bearish bar. It is very low, and this is a sign that sellers lost power and that reversal is possible. Stochastic oscillator is showing oversold level, which confirms the strength. Watch for buying opportunities. According to the 4H time frame, I found bullish harami candle pattern from the bottom. It is a good sign of a potential change in the trend dynamic. Upward targets are set at the price of $1,239.00 and $1,263.00.

Trading recommendations for today:
Be careful when selling gold and watch for buying opportunities.




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  #102  
Old 03-06-2016, 19:42
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been sideways at the price of $1,211.00. According to the daily time frame, I found a reversal candle pattern, the Morning Star formation. Notice the volume on the bearish bar. It is very low, and this is a sign that sellers lost power and that reversal is possible. Stochastic oscillator is showing an oversold level, which confirms the strength. Anyway, according to the 30M time frame, I found trading range between the price of $1,206.30(support) and the price of $1,217.50 (resistance). Watch for buying opportunities on dips with the first target at the price of $1,217.00.

Trading recommendations for today:
Be careful when selling gold and watch for buying opportunities.




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  #103  
Old 08-06-2016, 15:27
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been moving upwards. The price tested the level of $1,254.00 in a high volume. According to the 30M time frame, I found broken trading range (re-accumulation phase). The price went out of the trading range in a high volume, which is a sign that selling looks risky. My advice is to watch fro buying opportunities on the dips. The first take profit level is set at the price of $1,265.00.

Trading recommendations for today:
Be careful when selling and watch for buying opportunities on the dips.




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  #104  
Old 10-06-2016, 08:23
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been moving upwards.As I had expected, the price tested the level of $1,266.14 in a high volume. According to the 30M time frame, I found changes in the trend dynamic from bullish to bearish. The price went below the 20EMA and I found a supply trend line. Be careful when buying and watch for potential intraday selling opportunities. The take profit level is set at the price of $1,249.00.

Trading recommendations for today:
Be careful when buying and watch for selling opportunities.




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  #105  
Old 15-06-2016, 12:32
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving upwards. As I had expected, the price tested the level of $1,289.65 in a high volume. The trend is upward but according to the 1H time frame, I found a broken upward trend line (demand trend line), which is a sign that sellers took control over buyers and that buying gold at this stage looks risky. I saw successful re-test of the demand trend line. So, watch for selling opportunities. I have placed the Fibonacci retracement to find potential downward targets. I got the Fibonacci retracacement 38.2% at the price of $1,269.00, Fibonacci retracement 50% at the price of $1,262.25, and Fibonacci retracement 61.8% at the price of $1,255.55

Trading recommendations for today:
Be careful when buying and watch for selling opportunities.




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  #106  
Old 17-06-2016, 14:46
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis, gold has been moving downwards. The price tested the level of $1,276.46 in a high volume. The trend is bullish. According to the 30M time frame, I found rounding bottom (saucer pattern) and also there is flat horizontal base. I found that the high volume value area from yesterday is at the price of $1,308.00. The level of $1,308.00 is the target profit for today.

Trading recommendations for today:
Be careful when selling and watch for buying opportunities.




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  #107  
Old 22-06-2016, 20:11
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downward. As I expected, the price tested the level of $1,261.08 in a high volume. The analysis from yesterday is still active and it is a good progress so far. I found a massive sell-off in a heavy volume in the background, which is a sign that buying looks very risky and that selling opportunities are preferable. According to the 4H time frame, there is testing of Fibonacci expansion 100% at the price of $1,262.00. If the price breaks the level of $1,262.00 in a high volume, we may see further downward continuation and potential testing of $1,240.00.

Trading recommendations for today:
Be careful when buying and watch for selling opportunities on pullbacks




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  #108  
Old 23-06-2016, 18:07
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downward. As I expected, the price tested the level of $1,257.42 in a high volume. According to the daily time frame, I found 50-simple moving average on the test. According to the 4H time frame, there is 200-simple moving average on the test. So, be careful when selling at this stage, since we may see potential upward reaction. I found supply trendline according to the 4H time frame, watch for potential breakout of trend line to confirm a further upward movement. The first upward target is set at the price of $1,271.00

Trading recommendations for today:
Selling gold looks risky at this stage. So, watch for potential buying opportunities.




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  #109  
Old 28-06-2016, 19:07
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. The price tested the level of $1,305.25 in a low volume. According to the 4H time frame, I found a strong upward trend in the background. The price went into a bearish correction, which is a normal reaction after the massive demand in the background. I found testing of 21SMA, Fibonacci retracement retracement 50% and Fibonacci expansion 61.8%. Be careful when selling gold at this stage. We may see further upward continuation. A target is set at the price of $1,358.00.

Trading recommendations for today:
Selling gold looks risky at this stage. So, watch for potential buying opportunities.




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  #110  
Old 30-06-2016, 19:00
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading sideways at the price of $1,318.50. According to the 30M time frame, I found the key point of control from the massive bullish day in the background is set at the price of $1,317.50. Today, I found buying tails from the bottom at the price of $1,313.20. Watch for buying opportunities on the dips. The first take profit level is set at the price of $1,327.30. The major take profit level is set at the price of $1,358.00 (major swing high)

Trading recommendations for today:
Selling gold looks risky at this stage. So, watch for potential buying opportunities.




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  #111  
Old 06-07-2016, 01:40
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. The price tested the level of $1,338.34 in an ultra high volume (climax). According to the 30M time frame, there is massive climax in the background and successful testing of supply, which is a sign that selling looks very risky. Climatic action represents panic reaction usually due to bad news, it can also represent profit taking by sellers. So, watch for buying opportunities on the dips. The first take profit level is set at the price of $1,353.00.

Trading recommendations for today:
Selling gold looks risky at this stage. So, watch for potential buying opportunities.




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  #112  
Old 06-07-2016, 18:33
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading upwards. As I expcted, the price tested the level of $1,374.25 in an high volume. According to the 30M time frame, I found strong upward trend and successful testing of supply in a low volume at the price of $1,364.00. I have placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 100% at the price of $1,380.00 and Fibonacci expansion 161.8% at the price of $1,389.90.

Trading recommendations for today:
Selling gold looks risky at this stage. So, watch for potential buying opportunities.




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  #113  
Old 08-07-2016, 03:12
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. The price tested the level of $1,360.00 in an ultra volume (climax). According to the 30M time frame, I found a climatic action and responsive buyers reaction at the price of $1,359.90. Using market profile, I found single prints at the price of $1,139.90. Be very careful when selling Gold and watch for buying opportunities. The point of control for today is set at the price of $1,367.20. The second upward station is set at the price of $1,370.40.

Trading recommendations for today:
Selling gold looks risky at this stage. So, watch for potential buying opportunities.




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  #114  
Old 13-07-2016, 08:33
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. The price tested the level of $1,350.21 in an ultra high volume. According to the 30M time frame, I found a bullish engulfing candle pattern in a high volume from the support at the price of $1,350.60. I am expecting higher price. Be careful when selling and watch for buying opportunities. The first take profit level is set at the price of $1,357.50. The second take profit level is set at the price of $1,359.90.

Trading recommendations for today:

Selling gold looks risky, watch for buying opportunities




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  #115  
Old 14-07-2016, 16:19
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. The price tested the level of $1,324.45 in a high volume. According to the 30M time frame, I found that sellers are in control and that buying looks risky. The price is below the 21SMA and I found no demand bars, which is a sign that we may see selling continuation. The first take profit level is set at the price of $1,316.60. The second take profit level is set at the price of $1,307.85.

Trading recommendations for today:
Buying gold looks risky, watch for selling opportunities on the pullbacks.




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  #116  
Old 15-07-2016, 10:51
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. The price tested the level of $1,324.45 in a high volume. According to the 30M time frame, I found that sellers are in control and that buying looks risky. The price is below the 21SMA and I found no demand bars, which is a sign that we may see selling continuation. The first take profit level is set at the price of $1,316.60. The second take profit level is set at the price of $1,307.85.

Trading recommendations for today:
Buying gold looks risky, watch for selling opportunities on the pullbacks.




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  #117  
Old 21-07-2016, 16:30
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading downwards. The tested level of $1,310.65 is in an average volume. The price reached my downward target at $1,312.20. According to the 30M time frame, I found potential changing in the trend dynamic from bearish to bullish. I found fake breakout of yesterday's swing low and successful testing of supply in a low volume. My advice is to watch for potential buying opportunities on the dips. Target is set at the price of $1,332.00 (yesterday point of control).

Trading recommendations for today:
selling looks risky, watch for buying opportunities.




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  #118  
Old 27-07-2016, 16:20
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading sideways at the price of $1,320.00. According to the 4H time frame, I found strength in the background. I found bullish engulfing pattern, a double bar low with a higher close with ultra high volume demand and the morning star formation. All of these formations happened near the strong support at the price of $1,312.00. I have placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 61.8% at the price of $1,326.00 and Fibonacci expansion 100% at the price of $1,335.00.

Trading recommendations for today:
selling looks risky, watch for buying opportunities.




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  #119  
Old 28-07-2016, 20:04
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading upwards. As I expected, the price tested the level of $1,342.00 in a high volume. The price reached second target at the level of $1,334.70. According to the 4H time frame, there is a still strong upward pressure on the market. Price is heading to test third target point Fibonacci expansion 161.8% at the price of $1,348.90. Be careful when selling and watch for buying opportunities on the dips.

Trading recommendations for today:
selling looks risky, watch for buying opportunities.




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  #120  
Old 02-08-2016, 23:22
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Default Re: Daily technical analysis of GOLD By INSTAFOREX

Since our previous analysis,
gold has been trading upwards. As I expected, the price tested the $1,363.90 level in a high volume. According to the 1H time frame, I have found that price broke consolidation trading range and did successful test of support after the breakout, which is a sign that Gold may continue higher. 21 SMA is supporting the price very well and my advice is to watch for buying opportunities on the dips. The first take profit level is set at the price of $1,374.50.

Trading recommendations for today:
selling looks risky, watch for buying opportunities.




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