empty
05.04.2021 08:46 AM
Gold Retests Broken Obstacles!

Gold decreased a little after reaching 1,730 Friday's high. The decline was expected after registering an amazing rally. Technically, the yellow metal could continue higher if it stabilizes above the broken obstacles.

The price bounced back from a major static support area and it could develop a double bottom reversal pattern. A temporary retreat, decline, could help the buyers to catch a new upwards momentum.

XAU/USD More Gains Expected!

This image is no longer relevant

XAU/USD has found support on the 1,680 psychological level failing to reach and retest 1,676 lower low. Now is traded at 1,725 above the inside sliding parallel line and beyond the pivot point (1,713).

Personally, I would have liked to see a pivot point retest before resuming its upwards movement. Gold could slip lower if the USD continues to appreciate versus its rivals, so XAU/USD could still reach the pivot point.

Gold is trapped between 1,755 and 1,676 levels. We'll have a great trading opportunity when the price escapes from this major range. The immediate upside target is seen at the major descending pitchfork's median line (ML).

Jumping and stabilizing above the median line (ML) could send the rate above the R1 (1,749) and could bring an upside breakout from the mentioned range.

GOLD Trading Tips!

A false breakdown with great separation through the Pivot Point (1,713) or a new higher high, a bullish closure above 1,7130 could bring a new long opportunity. 1,755 could be used as an immediate upside target.

The upside scenario could be invalidated only by a drop and stabilization under the Pivot Point (1,713).

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ralph Shedler
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

How to Trade the GBP/USD Pair on July 30? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair also continued its downward movement, although it ended fairly quickly. The macroeconomic background was weak yesterday

Paolo Greco 06:59 2025-07-30 UTC+2

How to Trade the EUR/USD Pair on July 30? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair continued its decline, although not at the same pace as on Monday. Recall that on Monday

Paolo Greco 06:59 2025-07-30 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on July 30: The Pound Temporarily Loses Its Advantage

The GBP/USD currency pair also continued its downward movement on Tuesday, though much more moderately compared to Monday or last week. The reasons for the pound's decline this week

Paolo Greco 03:47 2025-07-30 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on July 30: The Euro Crisis Continues

The EUR/USD currency pair continued its downward movement on Tuesday, although during the day, it made the first attempts to halt the decline and recover. Overall, we fully supported

Paolo Greco 03:47 2025-07-30 UTC+2

How to Trade the GBP/USD Pair on July 29? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD The GBP/USD pair also traded lower on Monday, although the decline started much later than it did for the euro. This appears

Paolo Greco 07:06 2025-07-29 UTC+2

How to Trade the EUR/USD Pair on July 29? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD The EUR/USD currency pair plunged on Monday for quite understandable, logical, and consistent reasons. Essentially, the only event

Paolo Greco 07:06 2025-07-29 UTC+2

Trading Recommendations and Trade Breakdown for GBP/USD on July 29: The Pound Didn't Expect This from von der Leyen

The GBP/USD currency pair traded more calmly on Monday. The European trading session passed entirely in a flat range, but during the U.S. session, the euro pulled the pound downward

Paolo Greco 03:44 2025-07-29 UTC+2

Trading Recommendations and Trade Breakdown for EUR/USD on July 29: The Euro Takes a Hit to Its Ambitions

On Monday, the EUR/USD currency pair was engaged in just one activity — it was falling. Over the past six months, we haven't seen many crashes in the euro

Paolo Greco 03:44 2025-07-29 UTC+2

How to Trade the GBP/USD Pair on July 28? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of GBP/USD On Friday, the GBP/USD pair continued its decline, which began on Thursday. First, we would like to point out that the fall

Paolo Greco 07:25 2025-07-28 UTC+2

How to Trade the EUR/USD Pair on July 28? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of EUR/USD On Friday, the EUR/USD currency pair traded with minimal decline. By the end of the day, the euro had settled below

Paolo Greco 06:18 2025-07-28 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.