GOLD analysis for February 20, 2014
February 20, 2014 1:15 pmVideo
Latest News
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
Overview:
Since our last
analysis, gold has been trading downwards, the price tested the level of 1,308.46
on average volume. This bearish movement may signal the end of the major bullish
corrective phase. We saw decreasing volume on upper leg, which casued the price to
start bearish phase. The price rejected from our FR 61.8% (1,324.00), as like
we expected. Be careful with buying at this stage since we may see more
downward movement. I placed Fibonacci retracement levels to find possible down
stations and I got FR 38.2% at the price of 1,297.00 and FR 61.8% at the price
of 1,274.00. I also placed Fibonacci expansion levels to find the very first
down stations and I got FE 61.8% at the price of 1,313.00 (reached) and FE 100%
at the price of 1,306.00. Our next down station is FE 100% at the price of
1,306.00. My advice is to watch for potential bearish movement.
Daily pivot Fibonacci
points:
Resistance levels:
R1: 1,319.59
R2: 1,322.75
R3: 1,327.87
Support levels:
S1: 1,309.35
S2: 1,306.19
S3: 1,301.07
Trading recommendation: Trading the metal, be careful with buying
since we got decreasing volume on upper leg and Gold is near high new ground.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: