The price of the precious metal continues to decline with the rise of the value of USD. Continuous hawkish talks are putting even greater pressure on the price of the GOLD.
The technical indicators are also placing the instrument into a bear market, with MACD histogram below 0 line and continuing to decrease and RSI well below 50 neutral line.
Bearish traders are looking at a target price of 1600 if the trend continues. If it reverses, though, it might test the previous resistance at 1680.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
The technical indicators are also placing the instrument into a bear market, with MACD histogram below 0 line and continuing to decrease and RSI well below 50 neutral line.
Bearish traders are looking at a target price of 1600 if the trend continues. If it reverses, though, it might test the previous resistance at 1680.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.