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Daily Gold Analysis 10th May 2016

Gold Forecast

Daily Gold Analysis 10th May 2016


Good Evening Gold Lovers

We were not able to post morning analysis because of internet issues.

In our yesterday analysis we were expecting bounce from first support 1270-71 and 1251-55 in extension.Market move down and broke first support.Current market price is 1263-64.We are expecting more downward movement before a bounce.Next and final bearish target is 1251-55, which is also the support of rising channel that was forming since last few days.We will go long from the support with  first target 1270 and 1281 in extension.Daily closing below 1249-51 will invalidate the rising channel and may change our thoughts from bullish to bearish for next move.I am sharing 4 hour time frame chart below with possible buying area , target and invalidation points.Please have a look.

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.

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( We already set some pending orders for possible next move )

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Email : admin@dailygoldanalysis.com

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

Mati Ur Rehman

Gold Analyst @ dailygoldanalysis.com


Mati Ur Rehman is a forex trader having 11 years experience in the field and knows as a technical analyst. He is an expert in XAUUSD Gold Analysis.

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