empty
28.06.2022 05:38 AM
Trading plan for Gold on June 28, 2022

This image is no longer relevant

Technical outlook:

Gold prices whipsawed on Monday rising to $1,841 before reversing sharply lower closing the day at around $1,822. The yellow metal is seen to be trading at around $1,825 during the Asian session on Tuesday and is expected to push higher towards $1,886 at least in the near term. Bulls are looking poised to hold prices above $1,817 and broadly $1,805.

Gold prices are producing a counter-trend rally since May 16, 2022, after dropping to the $1,786 lows. The correction seems to have completed its first and second waves at around $1,880 and $1,805 and is progressing within its last-wave rally towards $1,920. A push above $1,880 is now required to confirm further acceleration.

Furthermore, Gold has carved a lower degree upswing between $1,805 and $1,857 as seen on the 4H chart here. Prices have also retraced the above upswing through $1,817 over the past week. If the above structure holds well, prices would stay above $1,817 and push through $1,886 and higher in the next several trading sessions.

Trading plan:

Potential rally through $1,920, against $1,781

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Recommendations and Analysis for GBP/USD on April 30: The Pound Has Cooled Down, But for How Long?

On Tuesday, the GBP/USD currency pair failed to continue the upward movement it had started so vigorously on Monday. It is worth recalling that there were no solid reasons

Paolo Greco 03:29 2025-04-30 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 30: The Market Remains in a State of Hibernation

The EUR/USD currency pair continued to trade within a sideways channel throughout Tuesday. The flat movement is visible in the chart above. Last week, the pair briefly broke

Paolo Greco 03:29 2025-04-30 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 29th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.3421 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and see what happened. The pound

Miroslaw Bawulski 18:55 2025-04-29 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 29th (Review of Morning Trades)

In my morning forecast, I drew attention to the 1.1378 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 18:52 2025-04-29 UTC+2

How to Trade the GBP/USD Pair on April 29? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD On Monday, the GBP/USD pair rose by 130 pips. Such was the "boring Monday" without a macroeconomic report or important speech

Paolo Greco 06:43 2025-04-29 UTC+2

How to Trade the EUR/USD Pair on April 29? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD On Monday, the EUR/USD currency pair showed somewhat mixed movements, no matter how you look. On the one hand, the pair demonstrated

Paolo Greco 06:43 2025-04-29 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 29: The Pound Sterling Is Back to Its Old Ways

On Monday, the GBP/USD currency pair once again traded higher despite having no fundamental reasons. However, by now, all traders should be accustomed to such developments. While the euro tends

Paolo Greco 04:32 2025-04-29 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 29: Euro Growth Did Not Affect the Flat Trend

On Monday, the EUR/USD currency pair showed a decent upward movement during the day but remained within the narrow sideways channel of 1.1312–1.1414 (Kijun-sen line). Recall that the euro

Paolo Greco 04:32 2025-04-29 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 28th (Analysis of Morning Trades)

In my morning forecast, I focused on the 1.3342 level and planned to make trading decisions based on it. Let's take a look at the 5-minute chart and see what

Miroslaw Bawulski 19:19 2025-04-28 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 28th (Review of Morning Trades)

In my morning forecast, I focused on the 1.1391 level and planned to make trading decisions from there. Let's look at the 5-minute chart and see what happened. Although there

Miroslaw Bawulski 19:07 2025-04-28 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.