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FX.co ★ Analysis of Gold for August 30, 2023 - First upside objective reached and potential for the futher grwoth

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Forex Analysis:::2023-08-30T06:33:28

Analysis of Gold for August 30, 2023 - First upside objective reached and potential for the futher grwoth

Technical analysis:

Analysis of Gold for August 30, 2023 - First upside objective reached and potential for the futher grwoth

Gold has been upside as I expected and the price has reached the first upside objective around $1.940 and there is still chance for the further growth.

Due to the strong upside momentum and weak pullback, I see potential for the further growth towards upside references.

Upside objectives are set at the price of $1.950 and $1.970

MACD oscillator is showing fresh upside momentum, which is another sign for the further growth.

Resistance levels are set at $1.945, $1.952 and $1.970

Analyst InstaForex
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