empty
 
 
01.06.2021 09:17 AM
Gold Almost To Hit New Targets!

Gold rallies after failing to retest the $1,900 psychological level as the DXY (US Dollar Index) remains in the bearish territory. The yellow metal is trading at the 1,914.39 level at the time of writing and it seems strong enough to approach and reach new obstacles, targets.

The US is to release the ISM Manufacturing PMI which represents a high-impact event. The indicator is expected to increase from 60.7 to 60.8. A potential growth registered by the US Dollar Index after the US data release could bring some selling pressure on Gold.

XAU/USD Strongly Bullish!

This image is no longer relevant

Gold is approaching the weekly R1 (1,919.87) level which is seen as a static resistance. The ascending pitchfork's upper median line (uml) represents a major upside target.

Its failure to reach and retest the median line (ml) signaled strong buyers and potential further growth. Also, the failure to reach the S1 (1,879.82) indicated a bullish movement towards the R1.

Gold ignored the $1,900 psychological level, so more gains are favored. It remains to see how the price will react at the R1 (1,919.87) resistance.

Forecast!

The false breakdown with great separation through 1,890.14 followed by the aggressive breakout above the 1,900.00 level suggested a long opportunity. Now, we have to wait for a temporary decline or for a short-term consolidation before going long again.

Gold could decline a little if the US Dollar will start increasing again versus its rivals.

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $8000 lebih banyak!
    Pada Maret kami mengundi $8000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback