Gold prices test the annual low

July 16, 2015

Sell on a level breakthrough of 1142 with 1131 target. Stop loss = 1153.

Reason for the trading strategy

Yesterday, the US Federal Reserve chairman J. Yellen did not name a specific date when the key interest rate would be increased in 2015. Perhaps the time -frame for its increase will be determined by the US macroeconomic statistics, which in the second half of 2015 will be better than it will be in the first half. Note that in June, the volume of industrial production in the US grew by 0.3% (m/m), and was better than the expected 0.2% (m/m). Today, it is worth paying attention to the number of jobless claims in the United States.

Publication source
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January 19, 2017
U.S. reports revealed a hefty 0.8% December industrial production
Asian stock markets traded mixed, with Japan and ASX moving higher, as Fed’s Yellen said she expects to hike rates few times a year through 2019 to 3% neutral rate...
January 19, 2017
Yellen repeats Fed is close to meeting targets, USD up
The speech by the US central bank governor Janet Yellen did not offer any new insights on the attitude of FOMC, nor did it cause large shifts in the pricing of future rate hikes (even if now 3 rate hikes in 2017 look again more probable than only one, with 2 remaining the most expected outcome)...
January 19, 2017
Trump vs Yellen & Draghi vs Weidmann
The U.S. dollar has been on a roller-coaster this week. After dropping by more than 1% on Tuesday the dollar index recovered 0.9% from its lows...

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