The traders preferred buying the gold

1 August, 2016

The traders preferred buying the gold on Friday after the disappointed Fed’s decision to keep the rates unchanged. The Bank of Japan disappointed traders as well as the markets expected bolder actions from the regulator.

Current situation

Daily and weekly technical studies remain bullish. The pair had a positive day on Friday. Bulls are gradually gaining more control over the market. The buyers managed to lead the price from the support 1330 to the mark 1350. The resistance is seen at 1360, the support stands at 1330.

Indicators generated a buy signal. MACD is in the positive area. The histogram grew which indicates the buyers’ growing strength. Indicator RSI approached the overbought area.

Technically, the instrument is above the 50, 100 and 200 EMAs in the 4 hours chart. The price was growing from the moving averages. The 50-EMA is crossing the 100-EMA upwards. The 50, 100 and 200 Day EMAs are moving upwards.

Trading recommendations

The overall outlook remains bullish, for a rise towards 1360 resistance area.


Source link  
Asian markets higher, oil rally goes on

Oil prices extended gains in early trading hours as expectations for further reductions in global supply levels continued to build following Donald...

What's behind the oil rally?

The oil market has been going crazy in the last few days. On Monday, the US West Texas Intermediate crude for June delivery rose nearly 1.5 percent...

If Buffett is not investing on bitcoin...

Last week we have spoken about Warren Buffett's dislike for Bitcoin and the whole cryptocurrency world. Fine... it is not that he doesn't like it...


Equity indexes mixed in Asia

Markets in Asian traded mixed on Thursday as investors digested a widely anticipated interest rate decision by the US Federal Reserve while looking...

Asian stocks extend gains

Asian equity markets were mostly higher on Monday, with investors focusing on geopolitical tensions over the Middle East while keeping an eye...

Equity indexes in Asia rise

Asian equity indexes moved into green territory on Tuesday despite a weak lead from Wall Street on the back of higher Treasury yields and as traders await...


Trading activity is on the lowest

The light news flow and a break in US-Chinese trade rhetoric give the equity markets a positive momentum amid so far positive reporting season in the US...

Earnings in focus: a necessary revision

UK Average Earnings excluding Bonus (3Mo/Yr) (Feb) is expected to come in at 2.8% from 2.6% previously. Claimant Count Change (Mar) is expected...

Geopolitics weigh on sentiment

Markets in Asia were mixed on Monday amid rising geopolitical tensions following a western air strike over Syria and as investors await for fresh...


In the past 24 hours Bitcoin has lost -3.08% and reached $3311.11274676. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.0395% and is now at $1.1371. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 0.13% and is now at $86.5713793666. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets92%
2FXTMFXTM88%
3HYCMHYCM87%
4Alfa-ForexAlfa-Forex86%
5FxProFxPro85%
6FIBO GroupFIBO Group84%
7OctaFXOctaFX83%
8HotForexHotForex82%
9AvaTradeAvaTrade80%
10FXCMFXCM78%
  


Share: