empty
 
 
26.07.2021 09:57 AM
Gold Downside Invalidated, Buying Opportunity Incoming!

Gold increased after being rejected by a support zone. Its false breakdown with great separation through the immediate downside obstacles indicates potential growth. DXY's decline helped the yellow metal buyers to take the lead.

The FOMC could shake the markets on Wednesday as the traders are expecting some action in the upcoming monetary policy meetings. The price of Gold could jump higher if the risk-off sentiment dominates the markets in the upcoming period. Technically, XAU/USD registered a temporary decline as expected, so it could resume its growth.

XAU/USD Upside Breakout Favored!

This image is no longer relevant

Gold decreased after reaching the ascending pitchfork's upper median line (uml). Now it has found support above the lower median line (lml). The false breakdown with great separation indicates an upside momentum.

The immediate resistance is represented by the downtrend line. Jumping and stabilizing above it may signal further growth. The bias is bullish as long as it stays within the ascending pitchfork's body.

Outlook!

The false breakdown with great separation (dropping and closing far above) below the lower median line (lml) and through the 50% retracement level represented a buying opportunity.

Making a valid breakout through the minor downtrend line could bring a new buying opportunity. The upside scenario is valid as long as XAU/USD stays above the lower median line (lml).

Ralph Shedler,
Especialista em análise na InstaForex
© 2007-2024
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $9000 mais!
    Em Maio nós sorteamos $9000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 100%
    Sua oportunidade única de receber um bônus de 100% em seu depósito
    RECEBA O BÔNUS
  • Bônus de 55%
    Solicite um bônus de 55% em cada depósito
    RECEBA O BÔNUS
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback