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

December 2, 2016
It's not the jobs numbers
It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President...
December 2, 2016
OPEC alliance stuck a global agreement
The Oil prices jumped on Wednesday after the organisation members agreed to pare production first time since 2008, to reduce global oversupply, which made the prices collapse by half since mid-2014...
December 2, 2016
Rebound continues in UK construction
The latest data on the UK construction sector was released this morning, and will likely be seen as positive overall as the recovery from the Brexit shock appears to be persisting. Despite this the FTSE 100 is under pressure this morning...

FIBO Group Rating
Grand Capital Rating
 FXTM Rating
FXCM Rating
OANDA Rating
FBS Rating

Beeoptions Rating
EZTrader Rating
Grand Option Rating
TropicalTrade Rating
OptionFair Rating
OptionBit Rating