CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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GOLD - 13/06/2022

Micro Analysis

13 June, 2022

For General Information only. Not Intended to Provide Trading or Investment Advice. Your Capital is at Risk.

GOLD: MOVING WITHIN A CHANNEL BETWEEN $1830 AND $1870

PERIOD OF OBSERVATION: May 19 to June 13

  • RESISTANCE= 1870 (tested three times: May 24, June 2 and June 10)
  • MIDDLE POINT= 1850
  • SUPPORT= 1830 (tested twice: June 1 and June 10)

STEPS:

  • IF BETWEEN 1850 AND 1870 (EXPECTED: DOWNWARD CORRECTION) (BECAUSE OVERBOUGHT)
  • IF BETWEEN 1850 AND 1830 (EXPECTED: UPWARD CORRECTION) (BECAUSE OVERSOLD)

CHANGE IN BEHAVIOR:

  • IF IT BREAKS FIRMLY ABOVE 1870, GOLD COULD POTENTIALLY TARGET 1900
  • IF IT BREAKS FIRMLY BELOW 1830, GOLD COULD POTENTIALLY TARGET 1800


GRAPH: Gold, H1 (Period: May 19 – June 13)

Please note that past performance does not guarantee future results.

NEXT EVENT TO CAUSE VOLATILITY (WEDNESDAY, JUNE 15 AT 20:00 GMT+1): US FEDERAL RESERVE Interest Rate Decision. The US Fed is expected to raise the benchmark interest rate to 1.50% from 1.00% on Wednesday. The decision will be followed by a press conference at 20:30 GMT+1, to be held by Fed Chair Jerome Powell.

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