Gold failed to sustain recovery

1 May, 2017

Gold failed to sustain recovery

Gold failed to sustain Friday's recovery. The spot just tested 1270 and reversed its direction. The pair pulled back in the Asian night and reached 1260 in the mid-Asian session. The level limited sellers' advance who stopped at the level struggling hard to break it through afterwards. The technical indicators were mixed. The resistance is highlighted 1270, the support comes in at 1260ВВВ dollars per ounce.

Trading recommendations

A break below 1260 would open up the way for a move to 1250 dollars per ounce.


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Euro extended its bullish momentum

The line rejected the pair which eased towards 1.1650 afterwards. If the price breaks below 1.1650 sellers may push the euro to 1.1600...

Gold trades mixed in a narrow range

However, the level 1280 is on its way and won’t let the spot further. A rebound from 1270 pointed to strong buyers who will not give up their attempt...

Euro met an obstacle around 1.1700

The spot recovered to 1.1750 where the euro spent the first part of the night. An increased selling pressure weighed on the major in the mid-Asian session...


Gold keeps losing ground

The previous upward momentum lost strength at 1330 dollars per once. After facing selling resistance at the level the pair turned around and softened...

Gold started week with a gap downwards

The precious metal is around the lower boundary of the upward channel now. If sellers remain in the driver’s seat the spot may continue...

XAU/USD pair keeps its buy mode intact

The spot broke above previous day’s top and climbed to 1355 over the night trades. Gold is likely to continue its growth. Buyers aim at 1360 now...


Rebound from 1280 lifted gold prices

The spot jumped to 1290 and broke the level soon after testing it. As the most probable scenario, we consider further moving upwards towards...

Gold price sharply dropped

Buyers continued to struggle with 1290. However, all their attempts faced sellers' resistance around the hurdle. The level rejected the price...

Sellers continued to dominate

The euro bounced from 1.1750 and weakened to 1.1700 during the night and morning trades. The resistance resides at 1.1750, the support comes in at 1.1700...

  


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