Sell on a level breakthrough of 1104 with 1086 target. Stop loss = 1120.
Reason for the trading strategy
Expectations of growth in interest rates in the United States put pressure on gold. According to our estimates, the US Federal Reserve will raise its key interest rate in December 2015. In the medium term, the value of one troy ounce of gold could fall to 1 thousand dollars.
February 28, 2017 Gold opened the week inside of a consolidation zone
A close below the support at 1250 could see XAU/USD extend its declines down to 1240. Nevertheless, the upward structure remained in place. The lower limit of the upward channel lies around 1240. Buyers may find fresh bids around the level...
February 28, 2017 The US Congress meeting has investors on edge
Trumps speech at the Congress is a long-awaited event for investors, mulling over the room for further rally in the US market...
February 27, 2017 Black gold slightly declined amid the crude inventories report
The tone was negative in the oil market on Friday. The price reversed some losses in the night. Buyers returned the benchmark to 56.66 dollars per barrel where Brent caught fresh offers and moved lower...
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