Thread: Gold
Gold. Bearish bias persist for gold with both MACD and stochastic indicators gave bearish signals in the one hour chart. Nearest support located near 1162 area. If the price fall further beyond nearest support, it would face lower support at 1155 and 1148 area. Meanwhile bullish momentum would need a break above 1175 area and then would aim higher area of 1180 or even 1184.
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Very likely that Gold can continue to down. The best is take sell when the strong fibo at 1173.70 was successful can be break by seller (fibo at 1173.70 now acts as a nearest support at this pair).
Now its best time to make long term investment into gold as we see recovery of EU zone in next few days .
Market seemed directionless today, in fact it was lacking decisiveness and looked confused espeical over usd job data
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Trading Signal - 26/06/2015 - 10:00 (GMT +3)
Instrument: GOLD
Time : 60min CHART
Trend & Condition : Downwards Weak
A Medium probability, entry signal to go SHORT was given at 1173 after the market found resistance at 1178.
Only the upward break of 1178 would cancel the bearish scenario and take us LONG.
Support & Resistances :
1170 1178
1166 1182
1159 1188
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Spoiler:
Daily Forecast
Major Trend: Bearish
Time Frame: H4
Reason: To this day, predicted the market will still be heading to untu kretest 1178.86-1181.11 resistance once the correction, before continuing the bearish trend
Recommendation: Sell limit at 1178.86-1181.11
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Gold price managed to rush up to touch the first awaited target at 1205.00, shows some fluctuation from his side now Stochastic passively, waiting to gain positive momentum enough to pay the price to breach the mentioned level and then head towards our next target which resides at 1225.00.
Daily Forecast
Major Trend: Bullish
Time Frame: H1
Reason: Market still be heading to 1177.81, as the newly formed bearish candle and stochastic still downsloping
Recommendation: Sell
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Gold. The bias is neutral in the nearest term, potentially testing 1207 area. A clear break and consistent movement above that area should trigger bullish momentum aiming 1218 area. On the other side, immeidate support is seen around 1192 area, a clear break below that area would bring the price down to test 1182 area.
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Sell order:Bhai mary plan ya hai jub market support 1ko touch kry to sell k order lga den or se k tp support 2 ok kr den or stop loss resistance1 ok kr den
Buy order:jub market resistance1 ko touch kry to buy k order lga den or se k tp resistance2 ok kr den or se k stop loss support1 kr den.
Plan 2:sell order: jub market resistance3 ko touch kry sell order ok kr den or stop loss 20 pip kr den.
Buy order:jub market support3 ko touch kry to buy k order ok kr den.daily 30 or 40 pip profit easy.support and resistance indicator on chart.
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Daily Forecast
Major Trend: sideways
Time Frame: H1
Reason: At the moment the market is not able to penetrate the support at 1197.14, but when viewed from the daily time frame, then the market will retest at 1194.94
Recommendation: Sell with a target 1194.94
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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