GOLD 1H : Supports further decline
Updated
GOLD
OUTLOOK
Gold prices declined during trading today, Tuesday, as markets came under pressure from the strength of the dollar against most major currencies, in addition to the intense sales that affected most markets due to the rise in bond yields.
Technical abstract :
The price perfectly fulfills my last idea and price reached to our target .
The price of gold achieved a strong break from the 1916 level to settle below it, as it reached the 1903 areas and stable under it , activating bearish scenarios in the immediate term, aiming to head towards the 1890 and then 1885 levels as bad stations.
Therefore, we expect to witness a long-term reading during the coming period, supported by the bearish channel with Scott, until recording 1903 will stop the negative scenario and lead to the start of the target and recovery in the immediate term.
Additionally ,Today News will affect the market .
The expect range trading for today it will be between the resistance line 1903 and support line 1890.
support line : 1890 , 1885
resistance line : 1903 , 1916
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Gold prices declined during trading today, Tuesday, as markets came under pressure from the strength of the dollar against most major currencies, in addition to the intense sales that affected most markets due to the rise in bond yields.
Technical abstract :
The price perfectly fulfills my last idea and price reached to our target .
The price of gold achieved a strong break from the 1916 level to settle below it, as it reached the 1903 areas and stable under it , activating bearish scenarios in the immediate term, aiming to head towards the 1890 and then 1885 levels as bad stations.
Therefore, we expect to witness a long-term reading during the coming period, supported by the bearish channel with Scott, until recording 1903 will stop the negative scenario and lead to the start of the target and recovery in the immediate term.
Additionally ,Today News will affect the market .
The expect range trading for today it will be between the resistance line 1903 and support line 1890.
support line : 1890 , 1885
resistance line : 1903 , 1916
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
GOLDUPDATE
The price perfectly fulfills my last idea and price reached to our second target +110 pip .
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