Gold Technical Analysis for August 22, 2016.
August 22, 2016 7:50 amVideo
Latest News
- Euro will return to parity April 12, 2024
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
- EUR/USD. Analysis for April 12th. The euro falls down under the pressure of the news background April 12, 2024
- GBP/USD. Analysis for April 12th. A significant event: the pound fell below the 25-figure April 12, 2024
- Trading Signals for EUR/USD for April 12-15, 2024: buy above 1.0620 (-2/8 Murray – rebound) April 12, 2024
- GBP/USD: trading plan for the US session on April 12th (analysis of morning deals). The pound followed the euro April 12, 2024
- EUR/USD: trading plan for the US session on April 12th (analysis of morning deals). The euro continues to fall April 12, 2024
- EUR/USD and GBP/USD: Technical analysis on April 12 April 12, 2024
- EUR/USD: Dovish signals from the ECB and rising PPI April 12, 2024
- EUR/USD. April 12th. ECB meeting: confidence in rate cut increased in June April 12, 2024
- GBP/USD. April 12th. British economy continues to stagnate April 12, 2024
- Analysis and trading tips for EUR/USD on April 12 (US session) April 12, 2024
- Analysis and trading tips for USD/JPY on April 12 (US session) April 12, 2024
- Analysis and trading tips for GBP/USD on April 12 (US session) April 12, 2024
- Weekly Forex Outlook: 12/04/2024 – More inflation data on the way as rate cut bets in disarray April 12, 2024
- Technical Analysis – GBPUSD ticks down to new 5-month low April 12, 2024
- Bitcoin holds above $70,000 as halving event looms – Crypto News April 12, 2024
- Week Ahead – More inflation data on the way as rate cut bets thrown into disarray April 12, 2024
- Bitcoin will thrive during supply crisis April 12, 2024
- Technical Analysis – EURUSD plummets after US CPI and ECB decision April 12, 2024
Technical outlook and chart setups:
Gold dropped lower on Friday
and has also made fresh lows today around $1,331.00 levels today, before
pulling back higher. The metal has exceeded its drop more than our expectations
but still keeps the wave structure bullish till prices stay above $1,330.00
level. Looking into the wave structure, the metal now seems to have terminated
its wave 4 triangle consolidations at $1,331.00 level today. The metal should
remain in control of bulls till prices stay above $1,330.00 level. It is hence
recommended to remain long, with risk below $1,330.00 levels. Immediate
resistance is seen at $1,3555.00/56.00 levels, while support is seen at
$1,330.00 level. Please note that the metal looks to be into its last leg
(wave 5) rally and it is expected to reverse lower from close to
$1,380.00/90.00 levels going forward.
Trading recommendations:
Remain long, stop below
$1,330.00, target is at $1,368.00 and $1,390.00
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: