xauusd technical analysis on dated 02-11-2022

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USDJPY

In the markets, gold is traditionally seen as a safe haven asset. This is because it doesn’t experience the same volatility as other assets, and it has been a reliable store of value over the years.

 

When analyzing gold using technical analysis, you can use indicators like the Relative Strength Index (RSI) to determine whether the market is overbought or oversold. You can also look at price trends to see if there’s any indication that the price is about to change direction. Xauusd Live Chart is available in our Telegram free channel.

 

If you’re looking to invest in gold, then it’s important to keep an eye on these indicators so that you can make informed decisions about when and how to buy. Please follow the instructions for xauusd tradingview-

 

  • Broke the sequence of three negative daily performances.
  • Posted Mixed daily results for the last seven days.
  • The medium term bias is neutral.
  • The previous swing high is located at 1670.
  • A Fibonacci confluence area is located at 1604.
  • Selling spikes offers good risk/reward.

 

Recommendations: Sell/Sell limit @ 1665-1670 area       TP/Target: 1640/1610