Good Morning Forex Friends
We were expecting minimum correction towards 1251 before next high, It was not happen in yesterday session.Price move high without correction and hit our first target around 1271-73 area.Trend is still bullish and we are still looking for better price to jump in bullish trade.I am sharing 4 hour time frame analysis below.I will post daily and weekly detailed analysis in afternoon session.
4 Hour Gold Analysis
Gold hit our next bullish expected target at 1271-73 and current market price is 1269.I believe more upward movement today with next target 1283-85 level.It is also possible gold may give correction today and it will give next high at monday session.If gold start a correction today, then we will look to buy gold from 2 major support areas.Immidiate support is forming at 1259-61 level and major hourly support is at 1249-51 which could be the best price for bulls.Those who are planning to buy gold today should wait for better price.Please see the hourly chart below, i have mention next move diagram with possible bounce areas.
4 Hour Gold Chart
Note : Never risk more then 2% of your account capital in single trade.Always trade with proper risk management plan.
Site Announcement And Updates
We are also starting video analysis soon.We are working to make quality videos to give better understanding of our analysis.Our team is working to start education session very soon for beginners to understand the Forex basics.Those who want pro Forex technical analysis course can contact us via email.
Email : firstname.lastname@example.org
Skype : mati_ji
Feel free to comment below if you have any concern regarding charts and analysis.Your feedback is always welcome and help us to improve.
Wish you good luck and happy trading