Gold Technical Analysis on Daily Timeframe: 07/10/2023

deltawriter 10 July 2023

Short-term fluctuations currently indicate an upward trend in gold’s movement on the daily timeframe.

If the bullish pressures persist, a breakthrough of the range in 1925 could signify an ascent toward the resistance level in 1985. Should this level be surpassed, traders’ attention will turn to the 2000 level.

On the other hand, bearish actions could drive the price towards the recent three-month low at 1893. If this support level is broken, traders’ focus could shift to the March 1857 resistance level, close to the 200-day Simple Moving Average (SMA). Crossing that range could pave the way for the lowest level, 1804 in 2023.

To enter the forex market and gain more profits, log in to DeltaFX broker right now.

Do you like it?

Rate this post

Leave a Reply Cancel reply

Canadian overnight interest rate

The Canadian overnight interest rate is a measure or estimate of the rate at which large dealers can fund their securities balances for one business day. This

EURUSD Technical Analysis on daily timeframe: 17/07/2023

The EURUSD currency pair has experienced a significant increase in the past 10 days, breaking its recent resistance levels and reaching its 17-month high last

Technical analysis of the USD/JPY currency pair on an hourly timeframe: 11/07/2023

Due to concerns about potential intervention by the Bank of Japan (BoJ) in the market’s excessive selling, the yen had an upward trend. This upward trend

what are stablecoins?

A Stablecoin is a type of cryptocurrency whose value is linked to other assets such as fiats or precious metals. They are linked to other assets to have a more stable price. there are 3 main stablecoins and each one is linked to a specific collateral.

Canadian unemployment rate index

The unemployment rate index measures the percentage of the total unemployed workforce who are actively looking for work in the last month. Publishing a higher than expected figure should be considered negative/bearish for CAD, while reporting a lower than

Gold rose as the US unemployment rate came in lower than expected

The unemployment rate measures the percentage of the total labor force that was unemployed and actively looking for work in the past month. A higher than expected number should be considered negative/bearish for the USD, while a lower than expected number