Market Analysis: Gold trading around attractive long-trigger at 1,322/325 USD

  • master
  • 26.02.2019
  • Comments Off on Market Analysis: Gold trading around attractive long-trigger at 1,322/325 USD
<p><a href=”https://admiralmarkets.com/analytics/traders-blog/gold-bullish-2019-bounce”><img style=”width:auto;” class=”img-responsive” src=”https://fxmedia.s3.amazonaws.com/articles/remote/7c10995ef981bc5d71462d4de6d9e439.png” style=”” alt=”USD economic events calendar” rel=””></a></p><p><em>Source: Economic Events February 25, 2019 – </em><a href=”https://admiralmarkets.com/analytics/forex-calendar”><em>Admiral Markets’ Forex Calendar</em></a></p>
<p>After Gold recorded new yearly highs last week, by the end of the week it saw a corrective shift down to a potential long-trigger in the region around 1,322/325 USD/ounce. </p><p>As we stated in <a href=”https://admiralmarkets.com/analytics/traders-blog/gold-bulls-on-fire”>last Wednesday’s market anlysis</a>, on a daily time frame, the mode can be considered bullish as long as we trade above 1,300 USD/ounce. Nevertheless, traders should approach long-engagements with caution as we move into the current correction. </p><p>Traders should probably be careful and less aggressive and wait for stabilisation on the 4-hour-chart.</p><p>Just as we’ve said in our Trader’s Blog pieces over the past week: both the technical and the fundamental picture (midterm) favours a attack of the crucial resistance zone of around 1,360 USD in the near future, and the current region seems to be very attractive from a risk-reward perspective to anticipate such an attack.</p><p><a href=”https://admiralmarkets.com/analytics/traders-blog/gold-bullish-2019-bounce”><img style=”width:auto;” class=”img-responsive” src=”https://fxmedia.s3.amazonaws.com/articles/remote/3bf6e4e46fea5e76ec0eb9daed418942.png” style=”” alt=”Gold index 4 hour chart” rel=””></a></p><p><em>Source: Admiral Markets </em><a href=”https://admiralmarkets.com/trading-platforms/metatrader-5″><em>MT5</em></a><em> with </em><a href=”https://admiralmarkets.com/trading-platforms/metatrader-se”><em>MT5-SE Add-on</em></a><em> Gold 4-hour chart (between December 5, 2018, to February 22, 2019). Accessed: February 22, 2019, at 10:00pm GMT – Please note: Past performance is not a reliable indicator of future results, or future performance. </em></p><p>In 2014, the value of Gold fell by 1.7%, in 2015, it fell by 10.4%, in 2016, it increased by 8.1%, in 2017, it increased by 13.1%, in 2018, it fell by 1.6%, meaning that after five years, it was up by 6.4%.</p><p><a href=”https://admiralmarkets.com/trading-platforms/metatrader-5″><a href=”https://admiralmarkets.com/analytics/traders-blog/gold-bullish-2019-bounce”><img style=”width:auto;” class=”img-responsive” src=”https://fxmedia.s3.amazonaws.com/articles/remote/85c3d693f8b762976fae43252e75be02.png” style=”” alt=”Download MetaTrader 5 and begin trading today!” rel=””></a></a></p><p><em>Disclaimer: The given data provides additional information regarding all analysis, estimates, prognosis, forecasts or other similar assessments or information (hereinafter “Analysis”) published on the website of Admiral Markets. 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