MG Network

our website isOn Vacation

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Trading Signal for GOLD, XAU/USD, for September 30 - October 01, 2021: Buy above $ 1,725 (3/8)

analytics6155c78406979.jpg

XAU / USD is trading within a downtrend channel. Yesterday, it reached the bottom of the channel. From that level, it is making a technical rebound. Below at 1,718, 3/8 of a murray is located which is the next support for gold. We believe that above this level gold could make an upward movement, which will be a good opportunity to buy.

The weakness of the gold ounce is mainly due to the strength of the US dollar alongside the rise in the yields of Treasury bonds. Investors are taking refuge in the dollar, hence traditional safe-haven assets such as gold and the Japanese yen are losing ground.

The zone of 1,718 has become the next key support for Gold. Since on August 10 after the flash crash, it managed to find support above this 3/8 murray level. Now it is likely that it will try to challenge this critical level. If it remains above and consolidates, we will have a good opportunity to buy with targets at 1,750

On the contrary, below this key level appears 2/8 Murray at 1,687. We do not have such a strong bearish signal for now to believe that this level of 1,718 will be broken. Since the dollar index has reached a critical level of 94.53, and from that level it is making a technical correction, which could favor the recovery of Gold in the next few days.

Our strategy in the next few hours and until next week will be to buy gold as long as it trades above 1,718 and above the support of the bearish channel around 1,725. Take profit can be set at 4/8 of a murray around 1,750, the key resistance level.

What we can observe on the daily chart is that strong resistance is located at 1,750, since the upper line of the bearish channel converges at this level. Therefore, a pullback towards this area will be a good opportunity to sell with targets at 1,735 and 1,718.

Support and Resistance Levels for September 30 - October 01, 2021

Resistance (3) 1,750

Resistance (2) 1,740

Resistance (1) 1,729

----------------------------

Support (1) 1,718

Support (2) 1,706

Support (3) 1,692

***********************************************************

Trading tip for GOLD for September 30 - October 01, 2021

Buy above 1,725, or if gold rebounds at 1,718 (3/8) with take profit at 1,740 and 1,750 (4/8), stop loss below 1,715.

Sell if it makes a pullback at 1,750 (4/8) with take profit at 1,735 and 1,718 (3/8), stop loss above 1,757.

The material has been provided by InstaForex Company - www.instaforex.com