FX.co ★ Fractal analysis of GOLD as of August 14

Forecast for August 14:

Analytical review on the scale of H1:

According to Gold, the key levels on the scale of H1 are: 1203.06, 1198, 39, 1195.31, 1191.05, 1188.55 and 1183.34. Here, we follow the development of the downward cycle from August 3. The continuation of the movement downwards is expected after the passage at the price of the noise range of 1191.05 - 1188.55. In this case, the target is 1183.34, upon reaching which we expect a rollback to the top.

The short-term upward movement is possible in the corridor of 1195.31 - 1198.39 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1203.06 and this level is the key support for the bottom.

The main trend is the downward cycle from August 3.

Trading recommendations:

Buy: 1195.31 Take profit: 1198.10

Buy: 1199.00 Take profit: 1203.00

Sell: 1188.50 Take profit: 1183.70

Sell: Take profit: