FX.co ★ Analysis of Gold for August 25,.2021 - Fake breakout on Monday resulting selling today

Technical analysis:

Gold has been trading downside today as I expected. There is the fake breakout of the balance from Monday and that downside movement is likely to continue in next period.

Trading recommendation:

Watch for selling opportunities.on the rallies with the main target at the bracket low at $1,777.

Stochastic is showing extreme downside condition but with no evidence for the reversal.

Key resistance is set at the price of $1,809