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FX.co ★ Analysis of Gold for January 02,.2023 - Breakout of the trading range to the upside and potential for the growth

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Forex Analysis:::2023-01-02T09:07:02

Analysis of Gold for January 02,.2023 - Breakout of the trading range to the upside and potential for the growth

Technical analysis:

Analysis of Gold for January 02,.2023 - Breakout of the trading range to the upside and potential for the growth

Gold has been trading upside and I found breakout of the defined trading range to the upside, which is good sign for the further rally.

Trading recommendation:

Due to the breakout of the resistance zone and hold above this key level, I see potetnial for the further growth towards next upside objective.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.832

Key support is set at the price of $1.818

Analyst InstaForex
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