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FX.co ★ Analysis of Gold for July 01,.2021 - Potential for the downside continuation towards $1.750

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Forex Analysis:::2021-07-01T12:45:54

Analysis of Gold for July 01,.2021 - Potential for the downside continuation towards $1.750

Technical analysis:

Analysis of Gold for July 01,.2021 - Potential for the downside continuation towards $1.750

Gold has been trading upside in last 10 hours but I see potential for the downside movement and continuation of the downside trend.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside target at $1.750.

There is rejection from the massive Fibonacci cluster at $1.780, which is good confirmation for the downside continuation.

Stochastic is showing fresh bear cross, which is good sign and confirmation for the downside rotation.

Analyst InstaForex
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