FX.co ★ Analysis of Gold for February 02,.2023 - Upside objective has been reached, potential for the further growth

Technical analysis:

Gold has been trading upside as I expected and the price has reached the upside objective at the price of $1.950. Anyway, I see potential for further upside movement due to the strong upside momentum.

Trading recommendation:

Due to the strong upside pressure in the background and breakout of the key multi-day trading range, I see potential for further big growth.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of $1.980

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of $1.920