Gold Technical Analysis │ Key Support and Resistance Zones to Watch in Forex
Stay ahead in the gold market with our latest analysis on price movements, key target zones, and strategic entry points for short trades. Discover how gold has reached its lower target zone at 2625 - 2608 and explore the next bearish targets if prices fall below this level. We also cover strong resistance zones at 2666 - 2660 and 2698 - 2689, which present potential re-entry points for short trades within the current downtrend. Get expert insights and actionable tips for your gold trading strategy.
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1. Short Trade Opportunities in Gold | Detailed Analysis for Forex Traders
Gold prices have recently reached the lower target zone of 2625 – 2608, confirming the continuation of the short-term downtrend. Traders who opened short positions at the resistance zone between 2706 – 2700 have successfully met their target profits. As the price now tests this lower zone, the next potential bearish move would be if the price pierces and consolidates below this range. In that case, the next major target will be the Gold Zone, ranging from 2570 – 2564.
Traders should closely monitor for short entry opportunities at the key resistance levels of 2666 – 2660 and 2698 – 2689. These areas are likely to serve as strong points of rejection in the current bearish market structure. A break and close below the lower target zone could signal further downside momentum, making these levels ideal for placing short trades.
