Gold continues to trade within a medium-term channel

August 18, 2016

Gold continues to trade within a medium-term channel $1335- $1358.

Current situation

Today gold market consolidate at the level of the balance price of this range at $1344. Trading activity during the day is reduced, for some time gold will stay consolidated within this range.

Trading recommendations

We note that the chance for downward consolidation breakout increased. (support at $1,335). However the likehood of the Fed rate hike can dramatically change the balance of power in this market.

Publication source
Fort Financial Services information  Fort Financial Services reviews

October 28, 2016
Calm before the storm?
The main interest on the majors overnight has been the move above the 105.00 level on USDJPY, which has continued the weaker yen theme prevalent through most of the month. Data overnight showed the core inflation rate (ex-fresh food) remaining in negative territory at -0.5% YoY...
October 28, 2016
NZ bounces of key support levels
NZ trade balance data rattled the NZ economy yesterday as it came in below expectations at -1.436B NZD....
October 27, 2016
Sterling falls notwithstanding UK GDP
On Thursday, the British pound sagged against the greenback, notwithstanding data on third quarter growth showing that Britain’s economy shrugged off the immediate shock of the Brexit referendum...

Larson&Holz IT Ltd Rating
OANDA Rating
FXCM Rating
FBS Rating
Grand Capital Rating
FxPro Rating

TropicalTrade Rating
Binary Brokerz Rating
Beeoptions Rating
Porter Finance Rating
Anyoption Rating
EZTrader Rating