Xauusd analysis on dated 19-07-2022

stock market

 

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-

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  • Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
  • A higher correction is expected.
  • Further upside is expected although we prefer to buy into dips close to the 1690.00 level.
  • Risk/Reward would be poor to call a buy from current levels.
  • Although the anticipated move higher is corrective, it does offer ample risk/reward today.

 

Recommendations: Buy/buy limit @ 1695          Target: 1740

 

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