FX.co - Analysis of Gold for July 06,.2020 - Potential for the new upside leg due to strong upside trend in the background and rising channel

2020-07-06T11:39:40

Relevance until2020-07-08

Trading recommendation:

Analysis of Gold for July 06,.2020 - Potential for the new upside leg due to strong upside trend in the background and rising channel

Gold is trading in the well defined upward channel and I did found few rejections of the support, which is sign for the further bullish continuation.

Stochastic oscillator did another bull cross, which is another confirmation of the strength.

Watch for buying opportunities and potential targets at $1,790 and $1,3820

Support level is set at the price of $1,758

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ Analysis of Gold for July 06,.2020 - Potential for the new upside leg due to strong upside trend in the background and rising channel