XAU/USD: flat continues on 19.08.2015

August 19, 2015

Current trend

On Tuesday, gold significantly fell after the publication of strong data from the US on Housing Starts, which in July grew to 1.206 million (forecasted 1.190 million new starts). However, the fall did not last and towards the end of the session, the price grew again.

Today trading activity is falling as key publications on the Consumer Price Indices and FOMC Minutes are coming out in the US.

Support and resistance

Bollinger Bands on the daily chart is growing and the price range remains wide. MACD is growing as well and giving noticeably weakening buy signal. Stochastic is falling and moving away from the overbought zone.

The indicators do not give a clear trading signal.

Support levels: 1110.00 (14 August lows), 1105.50, 1101.60, 1094.50, 1080.70, 107.20 (24 July low).

Resistance levels: 1119.00 (local high), 1126.50 (13 August high), 1134.30, 1146.80, 1156.40 (middle of July level).

Trading tips

Open long positions after the breakout and consolidation above the level of 1119.00 (with the appropriate indicators signals) with targets at 1126.50, 1130.00 and stop-loss at 1110.00.

Short positions can be opened after the breakdown of the level of 1110.10 with the target at 1100.00 and stop-loss at 1126.50.

Publication source
LiteForex information  LiteForex reviews

February 24, 2017
Oil prices slightly grew
Brent oil prices extended their recovery in the Asian session on Thursday. Buyers led the price higher and broke 56.50 dollars per barrel in the early European morning...
February 24, 2017
Dollar drifts on Fed's lack of optimism
FOMC February meeting minutes released on Wednesday failed to provide support for the bulls to manage a sustainable breakout above 101.50...
February 24, 2017
Can gold continue post Fed rally?
Gold jumped to a 3 month high today, snapping a 3-day losing streak today after traders digested yesterday’s minutes meeting from the US Federal Reserve...

Fort Financial Services Rating
XM Rating
FIBO Group Rating
 FXTM Rating
Tickmill Rating
Exness Rating

Beeoptions Rating
Binary.com Rating
Anyoption Rating
UKoptions Rating
Banc De Binary Rating
99Binary Rating