Main Quotes Calendar Forum
flag

FX.co ★ Analysis of Gold for October 22,.2020 - The breakout of ascending triangle pattern and potential for test of $1.955

parent
Forex Analysis:::2020-10-22T11:17:11

Analysis of Gold for October 22,.2020 - The breakout of ascending triangle pattern and potential for test of $1.955

UK government raises job support aid, cuts employers' contributions

  • We are making job support scheme more generous
  • Employees only require to work 20% of hours, previously 33%
  • Firms only cover 5% of non-worked hours, previously 33%
  • Maximum grant will increase to £3,750 from £1,875 previously
  • Doubles grants for self-employed from 20% to 40%
  • Cash grants will be up to £2,100 per month for every month Tier 2 applies

Analysis of Gold for October 22,.2020 - The breakout of ascending triangle pattern and potential for test of $1.955

Further Development

Analysis of Gold for October 22,.2020 - The breakout of ascending triangle pattern and potential for test of $1.955

Analyzing the current trading chart of Gold, I found that the buyers are in control and there is the breakout of the ascending triangle in the background.

My first target was reached at the price of $1,930 and there is potential for the rally towards $1,955.

The short-mid term trend is still to the upside and my advice is to watch for buying opportunities on the dips with the target at $1,955

1-Day relative strength performance Finviz

Analysis of Gold for October 22,.2020 - The breakout of ascending triangle pattern and potential for test of $1.955

Based on the graph above I found that on the top of the list we got Ethanol and Sugar today and on the bottom Lumber and Orange Juice.

Key Levels:

Resistance: $1,931 and $1,955

Support level: $1,913

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...