Several things that the most successful forex traders already know.
Gold is now in growing trend. On the graph of the precious metal the trend support line can be drawn by minimal and the maximal can be the trend line resistance. Now the price of Gold goes up in a narrow range. For several days, this growth goes up without any changes. Price bounces off the support level and the trend, leaning into the upper border again goes down. Good situation, which traders and investors can use to log in if they configured as bullish. There may come a correction, but our target is still achievable, because the price rose good for more than 500 points, and another 130 will not be difficult for it. For the medium-term traders such opportunities of forex market are often not available. Normally trends more chaotic. Currently, we are more likely to anticipate further developments. Therefore, we continue to observe the behavior of prices and in the case of a new wave of upward join the Bulls, opening a long position.
The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
If the resistance level is broken you can use the following recommendation:
• Chart timeframe: H4
• The trade recommendation: Buy
• The level of entry into long position: 1219
• The level of profit and close the position: 1232 (1300 pips)
Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 1.0000
Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.2420
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 112.50
Forex currency pair EURUSD
Possible bullish movement in the breakout of the resistance level 1.0720
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