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

18 November, 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.


Source link  
S&P500: will the correction continue?

Since December 2015 the index S&P500 has been in the downtrend. In February, the index fell to the level of 2108.0, which is almost 15%. In the past 4 sessions the index had adjusted, approaching the level of 1935.0...

XAU/USD: A decline is likely to continue

On the 4-hour chart, the price is testing the level of 1210.80 (23.6% correction); the ascending 38.2% fan line is an additional resistance for the price. If this resistance area is overcome, a growth would continue to 1224.90 and 1249.25...

XAG/USD: pair is falling on February 16, 2016

Yesterday, the price of silver fell to last Thursday’s opening levels, when a new local low since the end of October 2015 was reached. Prices of commodity assets are falling as risk appetite is gradually returning to the market...


XAG/USD: silver slowed growth on February 11, 2016

Yesterday the pair showed choppy trade and closed at its opening level. The price was pressured by growth in the European stock markets and Fed Chair Janet Yellen testimony before the US Congress...

Analytical review of American Express Company

The Company ranks 23th on capitalization in the finance sector among the Issuers, trading in the American stock market. On 22 January the company reported for Q4 of the fiscal year of 2015. The company has been demonstrating negative dynamics for the last few quarters...

Brent: decline has resumed on February 05, 2016

Since the opening of the trading day the price of crude oil Brent is declining. On the hourly chart the price has broken down the first support level of 34.35 (ÅÌÀ50), which is ÅÌÀ200 on the four-hour chart...


XAU/USD: Gold is overbought on February 04, 2016

The price of gold has returned to the level of 1190.00 USD per troy ounce, (which is had at the beginning of November), regaining half of the losses since mid-October 2015. On the daily chart the price has broken down strong resistance levels 1129.00 (ÅÌÀ200)...

EUROSTOXX50 : Volatility in the financial markets continues

Amid sharp decline in the global stock indices since the beginning of the year European index EUROSTOXX50 has lost about 14%. During the final surge of decline from 3515.0 to 2840.0 last December, the price has managed to go above the level of 23.6% Fibonacci...

Brent: Oil prices can renew the plunge

On the daily chart the price has broken down the upper line of the downward channel at the level of 35.50. Although, on the daily chart the indicators OsMA and Stochastic recommend long positions; on the four-hour chart the indicators give signals in favor of the sell positions...

  


Share: