Good Evening Forex Friends
Today we were expecting a correction towards 1244-47 minimum.it was not happen and gold move up and give high at 1263 level.Price is still moving in a rising channel in 1 hour time frame chart.Next resistance is at 1269-71 level.Minor support is at 1253-53 and next possible support is at 1243-47.I have mention 2 support lines in the chart below.I suggest you to wait for the better price to jump in the market.If gold move lower and break below the rising channel in 1 hour time frame chart then we may see gold at 1231-32 area.Please be patience in the market and wait for the best level to buy.Please look at the chart below for better understanding.
Hourly Update Chart
I am also sharing previous 1 hour chart for the reference.
Previous Hourly Chart
Note : Never risk more then 2% of your trade account in single trade.Always trade with proper risk management plan.
Site Announcement And Updates
We are also starting video analysis from next week.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.
Trade Recommendations : Those who want our trade recommendations with proper entry and target points may contact us via email.We have set our minimum fees for the paid clients.
( Our paid clients already get nice profit from our previous week recommendations )
Forex Education : Those who want to learn forex technical analysis can contact us via email.We will start our skype classes session for interested members.
Email : email@example.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