FX.co ★ Analysis of Gold for July 30,.2020 - Intraday exhastion from sellers at $1.945 and potential for the upside swing

Technical analysis:

Gold has been trading downwards in the past 10 hours towards the level of $1,945. Anyway, I still see potential for the new upside leg due to strong upward trend in the background.

Trading recommendation:

Watch fro buying opportunities on the dips using the 30 minutes and hourly time-frame.

I found the brekaout of the supply trendline and the oversold condiiton on the Stochastic oscillator, which is good sign for the further rise.

The upward target is set at the price of $,971 and $1,980

Intraday support level is set at the price of $1,945