The gold decreased as traders prefer wait

July 27, 2016

The gold decreased as traders prefer wait and see mode before the Fed’s meeting is over.

The overall outlook remained bearish. The XAU/USD was in a flat, the price moved back and forth within a sideway: 1323 – 1314. The resistance is seen at 1330, the support stands at 1316.

MACD is in the negative area. The histogram grew which indicates the sellers’ positions weakening. Indicator RSI is in the neutral area.

Technically, the 1 hour chart shows that the instrument grew and broke through the 50 and 100 EMAs, but failed to move further the 200-EMA where the price bounced downwards. The 50, 100 and 200 Day EMAs are moving downwards.

Trading recommendations

We believe the growth will be continued now. The first target is the level 1330. We do not exclude the falls to 1310.

Publication source
Fort Financial Services information  Fort Financial Services reviews

February 17, 2017
Golds rally may falter
The gold price has racked up its 2nd straight day of gains today on the back of US dollar weakness and doubts over an interest rate hike next month from the US Federal Reserve...
February 16, 2017
Where is black gold heading?
The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech in the Senate Banking Committee emphasising the fact that it Is not quite right to use the wait-and-see stance regarding the interest rate hike...
February 14, 2017
Will France exit the euro?
The Euro has come under pressure late in the European session today, after analysts warned of the huge costs that France would face should they decide to ditch the European currency...

 FXTM Rating
FOREX.com Rating
Cms Trader Rating
Larson&Holz IT Ltd Rating
OctaFX Rating
FIBO Group Rating

TropicalTrade Rating
Anyoption Rating
UKoptions Rating
24option Rating
OptionBit Rating
OptionFair Rating