Gold prices enjoyed a mixed session

September 21, 2016

Gold was neutral on Tuesday as traders prepared for the U.S. and BoJ central banks meetings.

Current situation

Gold prices enjoyed a mixed session through trade on Tuesday. The price recovered during the Asian session and turned around in the European one. The pair came across a selling pressure near the resistance 1320, turned around and headed towards 1310. The XAU/USD bounced from the 50-EMA in the 4 hours chart. The moving averages kept heading lower. The resistance is at 1320, the support comes in at 1310 dollar per ounce.

 MACD decreased which indicates the strength of sellers. RSI is within the neutral territory. The oscillator is heading south.

Trading recommendations

 If the Fed raises the rate as the most probable scenario, we consider further moving downwards towards the level at 1300. If the U.S.regulator keeps the rate unchanged the price will grow through 1320 towards 1330.

Publication source
Fort Financial Services information  Fort Financial Services reviews

January 17, 2017
Volatility elevated ahead of May's Brexit speech; Pound recovers
Financial markets are anxiously awaiting U.K.’s Prime Minister Theresa May speech later today where she will lay out a detailed divorce plan from the EU.
January 16, 2017
Sterling slides on Theresa effect
The heightened hard Brexit fears have triggered a steep Sterling selloff during the early trading hours of Monday with the GBPUSD tumbling to a fresh three-month low at $1.1983...
January 16, 2017
Surging equities at risk ahead of earnings season
While earnings season has started on a very positive footing, however, banks and other financial companies were already expected to shine more than others due to rising interest rate expectations. As non-financial companies begin to report in the coming weeks...

FBS Rating
Larson&Holz IT Ltd Rating
XTB Rating
OANDA Rating
Tickmill Rating
OctaFX Rating

365BinaryOption Rating
OptionBit Rating
Grand Option Rating
Beeoptions Rating
Banc De Binary Rating
TropicalTrade Rating