GOLD: analysis for January 10, 2014
January 10, 2014 1:15 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for May 1-2, 2024: buy above $2,290 (21 SMA – 4/8 Murray) May 1, 2024
- Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump May 1, 2024
- Technical Analysis – NZDUSD falls back towards 5-month low May 1, 2024
- Technical Analysis – USDJPY erases losses, but risks remain May 1, 2024
- Video market update for May 01, 2024 May 1, 2024
- What do Q1 earnings hold for Disney’s stock? – Stock Markets May 1, 2024
- Will the post-FOMC jobs report move the dollar? – Preview May 1, 2024
- Forex forecast 05/01/2024: EUR/USD, GBP/USD, USD/JPY, SP500 and Oil from Sebastian Seliga May 1, 2024
- Market Comment – Dollar enjoys a bid; stocks concerned about a hawkish Fed May 1, 2024
- Technical Analysis – Gold seeks safety after Tuesday’s drop May 1, 2024
- Technical Analysis – USDJPY stabilizes a tad below 160.00 May 1, 2024
- Video market update for April 30, 2024 April 30, 2024
- Analysis of the EUR/USD pair on April 30, 2024 April 30, 2024
- Analysis of the GBP/USD pair on April 30th. Last chance for the dollar April 30, 2024
- GBP/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- EUR/USD: Simple trading tips for novice traders for April 30th (US session) April 30, 2024
- GBP/USD: trading plan for the US session on April 30th (analysis of morning deals). The pound is kept within the side channel April 30, 2024
- Could Monday’s intervention turn the tide for the yen? – Special Report April 30, 2024
- EUR/USD: trading plan for the US session on April 30th (analysis of morning deals). The euro is trying to end the month on April 30, 2024
- Trading Signals for Bitcoin (BTC/USD) for April 30 – May 7, 2024: sell below $62,500 (21 SMA – 4/8 Murray) April 30, 2024
Overview:
Since our last analysis, gold has been trading upwards,
as we expected, the price tested the level of 1,237.37 on average volume. The
price rejected successfully from our SR zone at 1,219.00. We can also В observe that strong demand entereted market at
1,223.00, which is a sign that selling at this stage looks risky. I placed
Fibonacci levels to find potential upper station and I got FE 61.8% at 1,256.00
and FR 38.2% at 1,279.00-1,295.00.Anyway, the first upper station may be at area of
previous swing high (1,247.00). In case the price breaks the area of 1,216.00,
we may see testing of FR 61.8% atprice 1,207.50. Do not forget, gold is in
bearish trend and we are now in bullish corrective phase. Selling gold at this
stage looks risky since gold is in progress of bullish corrective phase.
Daily pivot Fibonacci
points:
Resistance levels:
R1: 1,230.23
R2: 1,232.00
R3: 1,234.87
Support levels:
S1: 1,224.50
S2: 1,222.73 В
S3: 1,219.87
Trading recommendation: Trading the metal, be careful with
selling gold and try to catch bullish corrective phase.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: