FX.co ★ Analysis of Gold for January 28,.2022 - Strong downside momentum

Technical analysis:

Gold has been trading downside as I expected. I see potential for further drop due to strong imbalanced regime and strong downside momentum.

Trading recommendation:

Due to strong downside momentum and imbalanced market regime today, I see further downside continuation.

My advice is to watch for selling opportunities on the rallies with the downside objectives at $1,762 and $1,754

Additionally, there is the breakout of the key pivot trend line in the background.

Key support resistance level is set at $1,792