US currency took control of the flows

September 2, 2016

Gold futures traded close to the 2-month lows as traders took wait and see position before the NFP report.

Current situation

The US currency took control of the flows. The gold remained under pressure on Tuesday’s trades. Sellers were able to push the price lower on Tuesday. The new session lows are marked in the 1300 region. The 50-EMA crossed the 100 and 200-EMAs in the 4 hours chart. The moving averages kept trending lower which is a sell signal. The resistance is at 1316, the support comes in at 1300 per ounce.

MACD grew which indicates the sellers’ positions weakening. RSI is heading towards the overbought territory.

Trading recommendations

Technically, a bearish tone persists in the 4 hours chart. The XAU/USD remains focused on a potential test of 1300. In case of a correction, buyers may push the price to 1316 per ounce.

Publication source
Fort Financial Services information  Fort Financial Services reviews

December 8, 2016
Banks guidance ahead of the ECB meeting
It seems that everything is clear the ECB will extend its asset-purchasing program, and send the euro lower. But banks smell a rat in this announcement. The ECB should introduce more easing measures...
December 8, 2016
Prepare for the ECB meeting outcome
The currency market has lost some volume, as traders are closing their positions ahead of Christmas and New Year’s celebrations. Investment funds are in no hurry to open new positions; they rather prefer to be actively trading in January...
December 7, 2016
Will ECB support Italy?
The yield of the Italian sovereign debt fell on Tuesday as the focus moved to the political uncertainty on the market. After Renzi’s crash on the weekend and the expectations of the ECB measures to deal with the possible fallout of the financial markets...

Larson&Holz IT Ltd Rating
Grand Capital Rating
EXNESS Rating
Z.com Trade Rating
FxPro Rating
FIBO Group Rating

Binary Brokerz Rating
OptionRally Rating
365BinaryOption Rating
Empire Option Rating
OptionBit Rating
Grand Option Rating