Gold remained around its recent peaks

20 February, 2017

Gold remained around its recent peaks on Friday. The price failed to advance beyond 1240 facing sellers’ resistance on any up-move in the early trades. The metal made another attempt to grow in the late European session. The price pushed away from 1240 and reached 1245 in the NY session opening. The 4 hours chart showed that the gold price hovered above its moving averages. The 50, 100 and the 200-EMAs maintained their bullish slope in the same chart. The resistance exists at 1240, the support stands at 1230 dollars per ounce.

The MACD histogram grew which indicates buyers’ strength.  RSI consolidated within the overvalued readings.

Trading recommendations

Despite the overall positive outlook the yellow metal seems to be having problems with its further advance. Inability to move higher may return some selling pressure to markets. Sellers’ profit targets lie at 1230 and 1220 levels.


Source link  
Equity indexes in Asia rise

Asian equity indexes moved into green territory on Tuesday despite a weak lead from Wall Street on the back of higher Treasury yields and as traders await...

Trading activity is on the lowest

The light news flow and a break in US-Chinese trade rhetoric give the equity markets a positive momentum amid so far positive reporting season in the US...

Earnings in focus: a necessary revision

UK Average Earnings excluding Bonus (3Mo/Yr) (Feb) is expected to come in at 2.8% from 2.6% previously. Claimant Count Change (Mar) is expected...


Geopolitics weigh on sentiment

Markets in Asia were mixed on Monday amid rising geopolitical tensions following a western air strike over Syria and as investors await for fresh...

Geopolitics is in the markets spotlight

Well, the global markets remained under pressure on the background of geopolitical risks and the expectations of missile strikes on Syria. It is...

Asian stocks rise despite tensions

Asian equities higher on Thursday, as market participants weighed a potential increase in commercial tensions between the world's two largest...


Negative sentiment returns to markets

After strong sales on the first day of the week, on Tuesday US markets showed a positive trend on technical rebound. US indices added on average...

Large-scale decline in equity markets

Yesterday, American markets experienced a real sale-off, indices fell by almost 3 percent. Earlier in the Asian trading, Chinese Shanghai Composite lost almost 4%...

Markets in Asia turn green

Markets in Asia traded mainly higher on Thursday following a widely expected Federal Reserve interest rate hike and upgrade of the US gross domestic...


In the past 24 hours Bitcoin has gained 0.4% and reached $9310.24. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.2229% and is now at $1.2229. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 24.4% and is now at $637.704. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro84%
5FIBO GroupFIBO Group82%
6FXCMFXCM70%
7XMXM68%
8Fort Financial ServicesFort Financial Services67%
9Alfa-ForexAlfa-Forex66%
10HotForexHotForex66%
  


Share: