xauusd technical analysis on dated 07-11-2022

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In the markets, gold is traditionally seen as a safe haven asset. This is because it doesn’t experience the same volatility as other assets, and it has been a reliable store of value over the years.

 

When analyzing gold using technical analysis, you can use indicators like the Relative Strength Index (RSI) to determine whether the market is overbought or oversold. You can also look at price trends to see if there’s any indication that the price is about to change direction. Xauusd Live Chart is available in our Telegram free channel.

 

If you’re looking to invest in gold, then it’s important to keep an eye on these indicators so that you can make informed decisions about when and how to buy. Please follow the instructions for xauusd tradingview

 

  • Posted a Double Bottom formation.
  • Previous resistance level of 1675 broken.
  • The formation has a measured move target of 1732.
  • There is scope for mild selling at the open but losses should be limited.
  • The Marabuzo level from the 04/11/2022 is located at 1656.
  • Bespoke support is located at 1656.

 

Recommendation: Buy/Buy limit @ 1660           TP/Target: 1696/1730