Gold revisits 5-year lows, USD index in three figures

November 27, 2015

Gold revisited 5-year low of USD 1063/Oz set earlier this month on the back of a rise in the USD index above 100.00 levels. 

Prices trim losses

The metal has managed to take back part of its losses to trade around USD 1066/Oz levels. The recovery in the European stocks followed by a move higher pushed the EUR/USD below 1.06 levels and triggered a broad based USD rally. Consequently, the USD index rose above 100.00 levels. 

Heading into the weekend, the prices could continue to track the movement in the USD index. 

Gold Technical Levels

The immediate support is located at 1063 (Nov 18 low+daily low), under which a major support is seen directly at 1032.30 (Mar 2008 high) on the monthly chart. On the higher side, the hourly 50-MA at 1071.46 and the hourly 200-MA at 1074.13 could offer resistance. 

Publication source
OctaFX information  OctaFX reviews

December 7, 2016
GBP falls as industrial & manu. production miss
The pound has come under pressure in London trading today. EURGBP buying has been a driver, with the cross rallying some 0.5% to a peak of 0.8510, since ebbing to around 0.8490. Gains failed to sustain above the 20-day moving average, which is at 0.8503...
December 7, 2016
Unexpected fall in UK economic indicators
This morning saw a substantial drop in both the manufacturing production and industrial production in the UK for the month of October which comes as a timely reminder that the economy remains vulnerable. The pound ended its recent rise against the US dollar yesterday after hitting a 2-month high...
December 7, 2016
U.S. dollar recovers from Monday lows
The U.S. dollar index managed to recover from a 14-day low on Monday at 99.87 with prices turning bullish yesterday. However, the gains remain limited within Monday's range with further upside likely to see the 100.80 resistance being established...

XTB Rating
Trade360 Rating
FOREX.com Rating
 FXTM Rating
FXCM Rating
EXNESS Rating

OptionFair Rating
OptionRally Rating
Binary Brokerz Rating
TropicalTrade Rating
OptionBit Rating
Beeoptions Rating