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04.02.2022 03:33 PM
Trading tips for gold

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Gold has been testing the resistance levels in the daily chart over the past year. It created prerequisites for pressure and a possible breakdown.

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Yesterday, another increase was seen, thanks to strong data on US jobless claims.

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This bullish move could extend today if data on unemployment turns out to be weaker than forecasts. Gold may even trade higher than $ 2,000.

If that happens, long positions should be taken, while short positions should be avoided. This follows the strategy of "Price Action" and "Stop Hunting".

Good luck and have a nice day!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
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