A stronger than expected the 4th quarter Eurozone GDP preliminary data supported the market’s sentiment towards the pair

17 February, 2015

General overview
A stronger than expected the 4th quarter Eurozone GDP preliminary data supported the market’s sentiment towards the pair. The pair is also supported by the negative market’s attitude towards the dollar. The pair growth potential is limited by the ECB large-scale quantitative easing program and by the euro sales in the EUR/JPY.
Based on the medium-term trend bears are still dominant on the market. The pair rebounded downwards from the level of 1.1400.
The price is finding the first support at 1.1300, the next one is at 1.1170. The price is finding the first resistance at 1.1400, the next one is at 1.1520.
The price is in the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross”.
The MACD indicator is in a neutral territory. The price is decreasing.

Trading recommendations
The pair can fall to the resistance level of 1.1300. After breaking 1.1300 the sellers may go to 1.1170.


Source link  
XAUUSD going downwards

Taking that into consideration looks as the market demonstrates its intention of sell-off start soon. Resistance is hold at 1250...

XAUUSD was moving aside

In order the long-terms traders are come back here the price might easily reach...

Pound continues to reach its heights

On Monday the British pound was going lower at opening...


Pound initially moved downwards

As for long-terms the target range seems to be 1.34 but due to the recent concerns and news around UK it looks as much more time...

Gold makes attempts to go straight

Within Thursday session the gold was slightly following downtrend until got the support at 1260 range. Currently Gold makes...

XAUUSD seems to be surrounded

Investors seem to expect the reports and news which could turn on the volatility and upside breakout...


British pound continued varying

Resistance saves at 1.1300, support comes in at 1.1260. Bulls won't have that much unless...

Yellow metal returned to a growth

Buyers failed to reclaim 1260 and stepped back in the night. The price slightly eased and corrected to 1253...

Undertone for Gold was clearly positive

The undertone for Gold was clearly positive on Thursday. The spot was growing the first part...

  


Share: