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FX.co ★ Analysis of Gold for August 02,.2022 - Potential for the upside continuation

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Forex Analysis:::2022-08-02T08:55:50

Analysis of Gold for August 02,.2022 - Potential for the upside continuation

Technical analysis:

Analysis of Gold for August 02,.2022 - Potential for the upside continuation

Gold has been trading downside this morning but I see potential for the upside continuation of the bullish trend.

Trading recommendation:

Due to strong upside trend in past few days and the light pullback, I see potential for the upside continuation.

Watch for buying opportunities on the intraday dips with the upside objectives at $1.790 and $1.805.

Stochastic is showing oversold condition and fresh bull cross, which is good sign for the further rally,.

Key support is set at the price of $1.765

Analyst InstaForex
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