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.

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