Xauusd analysis on dated 08-07-2022

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60pips.com

 

Gold (xauusd) is a precious metal and most popular commodities for trading at Stock and CFD market. Gold will give you profit very shortly. Most of the people trading gold for its own nature. There are few step we should follow to trade by today-

 

  • Although the bears are in control, the stalling negative momentum indicates a turn around is possible
  • A higher correction is expected
  • The 50% fibonaaci retracement level is the target
  • A break of 1747.00 is needed to confirm follow through bullish momentum

 

Recommendation: Buy/BuyStop @ 1748             Target: 1785/1800

 

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