Thread: Gold
XAU/USD found support yerterday on 1800 points.
The pair is currently finding resistance on 1840 points.
Indicators are mitigated.
We maintain to trade only long positions as far as 1800 is support.
The breakout of 1900 points will give a new buy signal and open the way towards new historics highs.
In case of return below 1800 points, we will wait new signals
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we can see that the pair has closed it's daily candle above 1800.00 . so , that's means that up trend is expected and the pair might head to 1850.00 and then 1865.00 ,but also the hourly correction is expected before continue in the up trend
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GOLD overcome the resistance around 1837 would signal a rise in precious metal to resist the diagonal of 1850. Current levels are at risk for taking up long positions. In general, technical indicators do not send clear signals
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If a M15 close above 1840 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1810 sell only and do not buy. If price closes back above it again do nothing
The range 1840 and 1810 is neutral area, any trade done in between is personal decision and not part of this analysis
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Gold just bounced off the 1825 support. It seems it is heading back into the 1840-1867 area where ranging was the predominant personality of the market.
Above 1840 trade only to the upside. If you are a conservative trader, stay out of the market altogether today.
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As with crude, gold prices are looking to Ben Bernanke’s speech for direction cues. As we outlined in our weekly forecast, the metal has scope to capitalize both on the risk aversion in the absence of QE3 as well as a bounce in sentiment driven by stimulus hopes.
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If a M15 close above 1870 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1820 sell only and do not buy. If price closes back above it again do nothing
The range 1970 and 1820 is neutral area, any trade done in between is personal decision and not part of this analysis
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Gold is in a big retracement now since it fell from 1900 dollars per troy ounce to 18.** region. I believe that up trend will still resume in this pair soon because gold remains bullish for many years and the dollar and the american economy is not getting better.
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Gold reached a level of resistance at 1840.52. Upon successful breakthrough at these levels, precious metals will begin restoring lost positions yesterday. An unsuccessful test of these levels, gold will make a correction to the short diagonal support in 1806.50/1807.50. There is narrowing of the range upward, resembling trigagalnik. Technical indicators give a buy signal.
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If a M15 close above 1912 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1850 sell only and do not buy. If price closes back above it again do nothing
The range 1912 and 1850 is neutral area, any trade done in between is personal decision and not part of this analysis
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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