FX.co - Analysis of Gold for August 20,.2021 - Tight consolidation and potential for the breakout play

2021-08-20T12:23:54

Relevance until2021-08-22

Technical analysis:

Analysis of Gold for August 20,.2021 - Tight consolidation and potential for the breakout play

Gold has been trading sideways at the price of $1,783. Watch for the breakout opportunities to confirm further direction.

Trading recommendation:

In case of the breakout of resistance at $1,793, watch for buying opportunities with the upside target at $1,826

In case of the downside breakout of the support at $1,775, watch for selling opportunities with the downside target at $1,755.

*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 20,.2021 - Tight consolidation and potential for the breakout play