FX.co - Analysis of Gold for August 03,.2021 - BWatch for the breakout of consolidation to confirm further direction

2021-08-03T12:22:42

Relevance until2021-08-05

Technical analysis:

Analysis of Gold for August 03,.2021 - BWatch for the breakout of consolidation to confirm further direction

Gold has been trading sideways at the price of $1,810. There is potential for the breakout play and new directional move.

Trading recommendation:

Watch for the breakout of the consolidation to confirm further direction.

Upside breakout of the resistance at the price of $1,811 can will confirm upside movement towards $1,819

Downside breakout of the support at $1,807 will confirm downside movement towards $1,1795

*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 August 03,.2021 - BWatch for the breakout of consolidation to confirm further direction