Gold can reach 1282.5 within the current day

March 29, 2019 8:35:00 AM by Alexander Zorevyk
Forecast Details
PairXAUUSD
Direction Sell
StatusClosed (1292)
6:03
6:00
Mar. 29, 2019

-50 p
1,292.0
Stop Loss
1,287.0
Entry
+45 p
1,282.5
Target 1
Chart & Analyst Comments
Gold can reach 1282.5 within the current day
  1. The sentiment indicator CurrentRatio informs us that the market crowd is buying. As a result, we should only consider selling.
  2. Data on the ratio of traders' positions are mixed, but key brokers signals for sell orders.
  3. The activity of "fresh" buyers in an uptrend may indicate that the market is waiting for the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  4. The MVP indicator shows a downtrend. We take this into account as one of the important factors in today's forecast.
  5. This movement is focused on the breakdown of the previous support, the target at the level of 1282.5.