Xauusd analysis on dated 15-07-2022

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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 turnaround is possible.
  • There is scope for mild selling at the open but losses should be limited.
  • Reverse trend line support comes in at 1695.00
  • We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
  • Although the anticipated move higher is corrective, it does offer ample risk/reward today.

 

Recommendations: Buy/buy limit @ 1695          Target: 1760

 

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