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

January 20, 2017
Advance in inflation across the Eurozone
Euro holds gains against the US Dollar ahead of the ECB rate decision, as majority of economists expect no major updates in the policy, while investors will be taking stock of Draghi rhetoric’s to foresee the timeframe of the next big move by the policymakers...
January 20, 2017
US oil inventory draw gave a temporally support for oil prices
Oil prices remained in red figures after Wednesday's bearish acceleration. Brent a little changed on the day and remained prone to more weakness on Thursday. The benchmark stayed neutral around 54.50 dollars per barrel flirting with the level during the European session...
January 20, 2017
Pound gives up gains
The British pound has pulled back sharply today after making its biggest 1day gain in nearly 20 years’ yesterday, as fears once again crept in about where Brexit will lead to...

XM Rating
EXNESS Rating
Larson&Holz IT Ltd Rating
Trade360 Rating
Orbex Rating
Z.com Trade Rating

Dragon Options Rating
OptionRally Rating
Anyoption Rating
365BinaryOption Rating
Migesco Rating
TropicalTrade Rating