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FX.co ★ Analysis of Gold for May 05,.2021 - First target reached

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Forex Analysis:::2021-05-05T11:38:54

Analysis of Gold for May 05,.2021 - First target reached

Technical analysis:

Analysis of Gold for May 05,.2021 - First target reached

BTC has been trading downside as I expected. The Gold has reached the first downside objectives at the price of $1.775 and the regime is now flat.

Trading recommendation:

Watch for potential selling opportunities in case of the downside breakout of support at $1.775 with the downside targets at $1.765 and $1.758.

Stochastic is showing negative reading, which is good sign for further downside continuation.

Key resistance is set at $1.796

Analyst InstaForex
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