Gold analysis for December 14, 2016
December 14, 2016 10:22 amVideo
Latest News
- Technical Analysis – EURUSD dives further near 1.0600 April 16, 2024
- XM 2024 Ramadan Promotion Winners April 16, 2024
- EUR/USD and GBP/USD: Technical analysis on April 16 April 16, 2024
- Key events on April 16: fundamental analysis for beginners April 16, 2024
- Overview of the GBP/USD pair. April 16th. The pound may rebound, but the flat is over, and there are no reasons for growth April 16, 2024
- Trading plan for GBP/USD on April 16. Simple tips for beginners April 16, 2024
- Trading plan for EUR/USD on April 16. Simple tips for beginners April 16, 2024
- Overview of the EUR/USD pair. April 16th. In plain text: The ECB will cut rates in June April 16, 2024
- Forecast for EUR/USD on April 16, 2024 April 16, 2024
- Forecast for GBP/USD on April 16, 2024 April 16, 2024
- Forecast for AUD/USD on April 16, 2024 April 16, 2024
- Outlook for GBP/USD on April 16. Pound awaits inflation data April 16, 2024
- Outlook for EUR/USD on April 16. Another boring Monday April 16, 2024
- The euro hardly has a chance to rise April 16, 2024
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
Recently, gold has been moving sideways at the price of $1,163.44. According to the 30M time frame, the price is trading above 21 SMA, which is a sign of strength. According to market profile analysis, yesterday’s point of control is set at the price of $1,158.50. Today, buyers are in control and I placed Fibonacci expansion to find potential upward targets. I got Fibonacci expansion 100% at the price of $1,168.00 and Fibonacci expansion 161.8% at the price of $1,177.50. Besides, there is a swing high is at the price of $1,165.40 (first upward target).
Resistance levels:
R1: 1,162.00
R2: 1,164.00
R3: 1,167.50
Support levels:
S1: 1,155.40
S2: 1,153.40
S3: 1,150.20
Trading recommendations for today: Buyers are in control today. Watch for buying opportunities on dips.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: