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Daily Gold Analysis 21st April 2016 ( Update )

Gold Forecast

Daily Gold Analysis 21st April 2016 ( Update )

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Good Afternoon Forex Friends

In our morning analysis we were expecting a possible correction or break of resistance to  jump in the market.Gold fail to touch the support and move high.Current market price is 1256-57 that is 4 hour symmetric resistance.We will look for the confirmation of break.If 4 hour candle close above the resistance line , we will consider it resistance break.Please keep in mind we consider closing of candle stick above  the resistance for confirmation.Gold next target may 1277-81 and invalidation is below the broken resistance that will become support.I am sharing 4 hour chart to give you better understanding.

4 Hour Update Chart

I am also sharing previous 4 hour chart for the reference

Previous 4 Hour Chart

Note : Please wait for the closing of 4 hour candle for break confirmation

Never risk more then 2% of your account capital in single trade.Always trade with proper risk management plan.

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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

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Mati

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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