FX.co - Analysis of Gold for September 29,.2021 - Potential drop towards 1.1600

2021-09-29T12:24:10

Relevance until2021-09-30

Technical analysis:

Analysis of Gold for September 29,.2021 - Potential drop towards 1.1600

EUR/USD has been trading downside today and I see potential for further downside continuation.

Trading recommendation:

Due to strong bear condition and potential for bigger drop, my advice is to watch for swelling opportunities on the rallies.

Downside target is set at 1,1615

Stochastic oscillator is showing oversold condition but with no evidence for the reversal.

Resistance is set at 1,1670

*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 September 29,.2021 - Potential drop towards 1.1600