Daily analysis of Gold for January 26, 2018 26.01.2018

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Exchange Rates 26.01.2018 analysis

Overview

Gold has been trading with an upward bias since morning to start testing 1,357.50 level. The price needs to breach this level to ease the mission of a further overall bullish trend. So the price is moving inside the bullish channel in a regular manner. In general, we still suggest the bullish trend for today as long as the price remains stable above 1,339.60, supported by the EMA50 and stochastic positivity. Let me remind you that we are waiting for the target level of 1,375.00, followed by 1,404.00 levels as the next main station. The expected trading range for today is between 1,340.00 support and 1,370.00 resistance.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Hossam Soliman Ali,
Analytical expert
InstaForex Group © 2007-2018

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