Gold futures grew on the back of disappointing U.S Non-Manufacturing PMI report. The latest negative U.S statistics reduced expectations that the Fed will raise interest rates in September.
Gold prices jumped to the weekly highs due toВ USВ negative Services PMI. The price broke the resistance 1330 and is trending towards 1350 now. The XAU/USD moved from the 100 and 200 EMAs in the 4 hours chart. The moving averages are moving upwards. The resistance is at 1350, the support comes in at 1330 per ounce.
MACD is in the positive area. RSI entered the overbought area.
We believe that this is essentially a “buy only” market at the moment. The next buyers’ target is the level 1350.
January 23, 2017 Japanese Yen is taking the heat
Looking at the daily chart of the Japanese Yen, we can see that the bullish engulfing has formed next to the 50% Fibonacci level, which has been broken on the weekly chart at the points of 125.853 and 98.935...
January 23, 2017 Main Macro Events This Week
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January 23, 2017 UK stocks start the week on the back foot
The FTSE100 is under some selling pressure this morning and trading lower by around 40 points. The leading UK stock index posted its first weekly loss in over a month on Friday and has continued lower out the gate today. The pound is broadly higher on the day and has moved back above the 1.24 handle against the US dollar...
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