We
need a clear break above 1682 to trigger
further bullish scenario targeting 1700 region.
Downside movement, immediate support is at
1641, break below that area could trigger
further bearish momentum aiming 1630 -
1603 region.
Printable View
We
need a clear break above 1682 to trigger
further bullish scenario targeting 1700 region.
Downside movement, immediate support is at
1641, break below that area could trigger
further bearish momentum aiming 1630 -
1603 region.
Gold has broken several all time highs in the last 10 trading days. This is to indicate that gold will be in up trend for a long time.
Traders all over the world are adviced to buy gold on the long term.
The precious metals of gold are driven by a wide variety of factors, including money supply, debt levels, currencies, CDS spreads, interest rates, inflation and fabrication demand from downstream sectors such as jewelry, electronics, and solar applications.
Gold was touched very high position. So, we may expect the down trend soon. I do long term trade. D1 chart is suitable for me. this support resistance is for my style
support 1.6690
Resistance 1.745
All the best
Gold reached news highs and is likely to continue the sharp rises during the day. Today, the Federal Reserve will meet to decide on the interest rate; Canadian housing starts stats will be published.
Its continuing the rally but Daily candles closing with some Big shadow which are good signs of sell in the coming days,Quote:
Originally Posted by niteshforex
Intraday trade:
If a M15 close above 1799.80 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1766.20 sell only and do not buy. If price closes back above it again do nothing
The range 1799.80 and 1766.20 is neutral area, any trade done in between is personal decision and not part of this analysis
Today candle is going to close as bearish one which suggesting correction has started, No more buy orders in Gold till it reach $15xx level.
I was shocked. today i saw the weekly movements for the gold. The gold up for 12000 pips. Very very huge movement as we compared with eur/usd. I think there is no huge down from this position.
The sharp fall in the swiss franc has turned Gold lower to 1754.25 tempering the recent safe-haven demand for the metal .
That’s almost $60 off the earlier all time high set in Asia overnight