The gold remained positive amid decline

4 August, 2016

General overview

The gold remained positive amid decline in expectations that the Fed will hike the rate in near-term.

Current situation

The pair remained neutral during the day and fell in the North American session. The session low was marked at 1353.52. The resistance is seen at 1370, the support stands at 1350.

Indicators generated a weak buy signal. MACD is in the positive area. The histogram decreased which indicates the buyers’ strength weakening. Indicator RSI left the overbought area and is moving downwards.

The moving averages slightly changed from Tuesday.

Trading recommendations

All eyes are right now at the current support level 1358. If this support will break, the price may fall towards 1350.


Source link  
Gold price sharply dropped

Buyers continued to struggle with 1290. However, all their attempts faced sellers' resistance around the hurdle. The level rejected the price...

Sellers continued to dominate

The euro bounced from 1.1750 and weakened to 1.1700 during the night and morning trades. The resistance resides at 1.1750, the support comes in at 1.1700...

Gold prices extended their recovery

XAU/USD pushed away from 1260 and rallied towards 1270 dollars per ounce. The resistance exists at 1270, the support stands at 1260 dollars per ounce...


Gold prices turned around

Gold prices turned around when the spot reached 1265. Sellers drove the price to 1255 where they lost momentum. The precious metal returned to 1265...

Gold bounced off 1210 and rallied to 1220

The spot remained in a downward channel and just approached its upper boundary. The level rejected the price in the late European session...

Gold prices continued to consolidate

The weakness in the stock markets has helped to keep the prices buoyed but as the markets recover, we should see the gold prices come under pressure...


XAUUSD going downwards

Taking that into consideration looks as the market demonstrates its intention of sell-off start soon. Resistance is hold at 1250...

XAUUSD was moving aside

In order the long-terms traders are come back here the price might easily reach...

Pound continues to reach its heights

On Monday the British pound was going lower at opening...

  


Share: