The XAU/USD pair continues falling. The price of gold is pressured by strengthening US Dollar

November 18, 2015

Current trend

The XAU/USD pair continues falling.

The price of gold is pressured by strengthening US Dollar amid increased market expectations that the Fed will proceed with monetary policy tightening and hike interest rates in December.

Yesterday October data on the Consumer Price Indices came out in the US that increased by 0.2% against the previous year. At the same time, the index excluding energy prices grew by 1.9% that comes very close to Fed’s inflation target. Inflation growth is one of the main factors considered before rate hikes, while the target stands at 2%.

Support and resistance

Long positions can be considered after the price consolidation above the strong support level in the area of 1073.00-1078.00.

Support levels: 1064.00.

Resistance levels: 1073.00-1078.00.

Trading tips

Open short positions after the price rebound from the level of 1073.00 with the target at 1054.00 and stop-loss at 1079.00.

Publication source
LiteForex information  LiteForex reviews

December 2, 2016
Oil may remain above $50
The Oil price continued to push higher today reaching its highest level in over a year with some predicting that the OPEC deal reached yesterday was a game changer and further gains are expected...
November 29, 2016
Euro may hit parity with US dollar
The Euro was under further pressure today against the US dollar on the back of political instability in Italy and, bringing it closer to parity with its American counterpart...
November 28, 2016
ECB speeches, OPEC rumours to dominate Monday
The US is back to the markets in full swing today as investors return from the long weekend and while this may have a major impact on the markets (given the fact that US bonds and US dollar had such a massive influence on global markets recently) other factors dominate in the calendar with the US being present...

HYCM Rating
Vantage FX Rating
Trade360 Rating
Larson&Holz IT Ltd Rating
FIBO Group Rating
Grand Capital Rating

Binary Brokerz Rating
Banc De Binary Rating
OptionBit Rating
365BinaryOption Rating
IQ Option Rating
Empire Option Rating