XAU/USD: gold strengthening on 18.09.2015

18 September, 2015

Current trend

The price of gold is growing to local highs amid the weakness of the USD, which failed to gain any support from the Federal Reserve. At the same time, there are no surprises that the Regulator decided to keep US interest rates unchanged.

However, before the Fed's decision was announced, positive labor market statistics were released in the US. The number of Initial Jobless Claims declined from 275K to 264K. Current Account registered a surplus of $109.7 billion against a forecasted deficit of $111.3 billion.

Support and resistance

Bollinger Bands indicator on the daily chart is turning horizontally. The price range has narrowed down at the top. MACD is growing and keeping a strong buy signal. Stochastic is approaching the border of the overbought zone that indicates a decline in the bullish sentiment.

According to the indicators, long positions are still valid, however, new positions should not be opened right now.

Support levels: 1126.50, 1121.63, 1115.70, 1110.00, 1105.50, 1101.05, 1098.50 (11 September local low).

Resistance levels: 1134.30 (near 17 September local high), 1140.53, 1147.66 (1 September high), 1156.40, 1166.20, 1169.81 (24 August high).

Trading tips

Long positions can be opened after the breakout of the level of 1134.30 (with the appropriate indicators signals) with targets at 1141.50, 1145.50 and stop-loss at 1125.00. Validily - 2 days.

Short positions can be opened after the breakdown and consolidation below the level of 1126.50 with the target at 1117.50 and stop-loss at 1130.00. Validity - 1-2 days.


Source link  
XAG/USD: A decline might resume

On the 4-hour chart, the pair is trading near the level of 15.32 (23.6% correction). The price is supported by the 38.2% fan line, directed up, and the level of 15.05 (38.2% correction)...

USD/TRY: Dollar resumed growth

Since the beginning of this week, the pair continues strengthening amid some reduction in anxiety on the market. The Dollar was supported by data on Retail Sales that came out in the US on Friday. In January, the index grew by 0.2% that was slightly better than forecasts of economists...

Brent: growth resumed on February 15, 2016

Since the middle of the previous week, the price of Brent crude oil continues growing amid weakness of the US Dollar. In addition, the price is supported by expectations of the reduction in output by major world producers...


XAU/USD: technical analysis

On the daily chart, the pair is trading just above the lower MA of Bollinger Bands. The price remains below the EMA130, EMA65 and EMA14, all directed down. The RSI is failing to break out from the oversold zone as it tested its resistance at 32 mark two times last week...

XAU/USD: gold renews lows

On Thursday, the price of gold fell to its 5-year lows. The Bearish trend accelerated amid macroeconomic statistics form the US than strengthened expectations of an interest rates hike on the US in December...

XAG/USD: pair is falling

The price remains under pressure amid strengthening US Dollar that was significantly supported after the publication of strong NFPR data in the US that substantially increased chances of an interest rate hike in December...


Brent: Fibonacci analysis

On the 4-hour chart, the price is trading in the area of 48.10 which is seen as a particularly strong level as 23.6% Fibonacci both for the short-term and medium-term trends have concentrated in the area of 48.10-47.80...

Brent: moderate growth

At the end of last week, the price of Brent crude oil strengthened moderately, being supported by the weakness of the US dollar which failed to hold its positions, gained after the recent Fed meeting...

XAU/USD: gold reached local highs

Last week the price of gold significantly grew. The pair remains under pressure amid concerns on the markets that the Fed will refrain from an interest rate increase before the end of the year...

  


Share: