FX.co ★ Analysis of Gold for April 08,.2022 - Watch for breakout of contraction

Technical analysis:

Gold has been trading downside sideways at the price of $1.932. I found that there is contraction in creation and that watching for breakout can be good idea under current condition.

Trading recommendation:

Due to the sideways and contraction regime on the Gold, watching for the breakout seems to be valid strategy under current condition.

In case of the breakout of resistance at $1.947, watch for upside opportunities with target at $2.007

In case of the downside breakout of support at $1.914, watch for selling opportunities with the downside objective at $1.884