Gold Technical Analysis for September 19, 2016.
September 19, 2016 10:33 amVideo
Latest News
- Trading plan for GBP/USD on May 3. Simple tips for beginners May 3, 2024
- Trading plan for EUR/USD on May 3. Simple tips for beginners May 3, 2024
- Forecast for EUR/USD on May 3, 2024 May 3, 2024
- Forecast for GBP/USD on May 3, 2024 May 3, 2024
- Forecast for USD/JPY on May 3, 2024 May 3, 2024
- The euro did not understand the Fed’s signals May 3, 2024
- Analysis of GBP/USD pair on May 2nd. The final chord for the dollar May 2, 2024
- Analysis of EUR/USD pair on May 2nd. The market calmly responded to the FOMC meeting May 2, 2024
- Technical Analysis – GBPJPY returns to pre-intervention levels May 2, 2024
- JPY terrifies traders May 2, 2024
- Fed makes tough decision May 2, 2024
- USD/JPY: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- EUR/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: trading plan for the US session on May 2nd (analysis of morning deals). The pound was pushed below 1.2521 May 2, 2024
- EUR/USD: trading plan for the US session on May 2nd (analysis of morning deals). Euro bought around 1.0700 May 2, 2024
- EUR/USD. May 2nd. US statistics disappoint once again May 2, 2024
- Technical Analysis – EURUSD capped by 20-day SMA as rebound falters May 2, 2024
- Forex forecast 05/02/2024: EUR/USD, USD/JPY and Gold from Sebastian Seliga May 2, 2024
- USD/JPY: trading tips for beginners for European session on May 2 May 2, 2024
Technical outlook and chart setups:
Gold had dropped lower towards
$1,306.00 levels last week, before pulling back higher. The yellow metal is
seen to be trading at $1,313.00 levels at this moment, looking to form a base
here before resuming its rally. Please note that the metal has bounced off the
vicinity of fibonacci 0.786 support levels of the recent rally between
$1,302.00 through $1,352.00 levels respectively. Furthermore, the back side of
its resistance trendline provided necessary support. The wave structure still
looks constructive for bulls, till prices remain above $1,302.00 levels going
forward. It is hence recommended to remain long with risk at $1,302.00 levels
for now. Potential still remains for bulls to take control from here. 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 now, stop at below $1,302.00;
target is $1,375.00 at least.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: