empty
23.01.2023 09:50 AM
Analysis of Gold for January 23,.2023 - Potential for the upside movement

Technical analysis:

This image is no longer relevant

Gold has been trading downside this morning but the rising trend-line support is on the test and there is chance for the upside movement.

Trading recommendation:

Due to the test of the rising support and strong upside trend from longer frames, I see potential for the upside rotation.

Watch for the potential buying opportunities with the upside objective at $1.933

MACD oscillator is showing upside reading, which is sign that buyers are still strong and that there is chance for further rise.

Key support is set at the price of $1.920

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Signals for GOLD (XAU/USD) for April 8-10, 2025: buy above $2,993 (200 EMA - rebound)

Our trading plan for the coming hours is to sell gold below 3,020, as technically there is a bearish trend channel. If gold fails to break above this level

Dimitrios Zappas 14:56 2025-04-08 UTC+2

Trading Signals for EUR/USD for April 8-10, 2025: sell below 1.0986 (200 EMA - 6/8 Murray)

If the euro breaks the downtrend channel, we could expect a new upward movement that could push EUR/USD up to 1.1051, last week's high, the 7/8 Murray at 1.1115

Dimitrios Zappas 14:54 2025-04-08 UTC+2

Forecast for EUR/USD on April 8, 2025

On Monday, the EUR/USD pair made two rebounds from the 76.4% retracement level, turned in favor of the euro, and consolidated above the 1.0944–1.0957 zone. As a result, the upward

Samir Klishi 10:57 2025-04-08 UTC+2

Forecast for GBP/USD on April 8, 2025

On the hourly chart, the GBP/USD pair continued its decline on Monday and ended the day near the 1.2709 level. Over just two trading days, the pound dropped by roughly

Samir Klishi 10:53 2025-04-08 UTC+2

Forex forecast 08/04/2025: EUR/USD, USD/JPY, Oil, SP500, and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:50 2025-04-08 UTC+2

Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Tuesday 08 April 2025.

After the Divergence appeared between the movement of the Gold price with the Stochastic Oscillator indicator on the 4-hour chart and was also confirmed by its price movement which

Arief Makmur 09:32 2025-04-08 UTC+2

Technical Analysis of Intraday Price Movement of Crude Oil Commodity Instrument, Tuesday 08 April 2025.

With the appearance of Convergence between the daily price movement of the Crude Oil commodity instrument and the Stochastic Oscillator indicator, it confirms that in the next few days

Arief Makmur 09:32 2025-04-08 UTC+2

Forecast for EUR/USD – April 8, 2025

On Monday, the euro reached the 1.1027 target level but dropped below 1.0955. Nonetheless, the single currency achieved its primary goal, reaffirming its intent to resume growth. Currently, the price

Laurie Bailey 05:03 2025-04-08 UTC+2

Forecast for GBP/USD – April 8, 2025

On Monday, the British pound showed another day of weakness, falling by 180 pips. As a result, the target level of 1.2714 was reached, and an ascending price channel

Laurie Bailey 05:03 2025-04-08 UTC+2

Forecast for USD/JPY – April 8, 2025

USD/JPY After reaching the target range of 145.08/91, the price corrected with increased volatility down to the balance line on the daily timeframe and began the current day with

Laurie Bailey 05:03 2025-04-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.