Gold: breaking the downtrend?

Gold: breaking the downtrend?

2021-03-09 • Updated

Observation

On February 26, a downward channel started forming. The upside of the channel was mostly limited by the 50-MA. Currently, the price is flirting with both the 50-MA and 100-MA which will define the destiny of this channel now. Hence, your action plan below.

Action 

  • Watch for bullish signs on lower timeframes; if they form while the price is at 100-MA, the price will likely cross its resistance; in this case, the target will be 200-MA at 1730
  • Watch for reversal signs on lower timeframes; if they form while the price is at 100-MA, a bounce downwards will likely take place: in this scenario, the support of 1680 will likely be crossed

XAUUSDH1.png

                                                                                             LOG IN

Similar

Worst Awaits Risk Assets in September
Worst Awaits Risk Assets in September

The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.

Latest news

It’s Time to Look at New Zealand
It’s Time to Look at New Zealand

Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera