Gold analysis for November 18, 2013
November 18, 2013 9:15 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
Gold continues to hit the 1,290 resistance from below, but it is unable to break above. Although prices have moved outside of the downward sloping red trend line; there is no break above the 1,290 resistance level. At the same time, prices manage to stay above the 1,270 support and are reaching closer to the upward sloping purple trend line.
The price action after November 14 is mostly sideways. Bulls will need to break above the green price level at 1293$ and bears will need to push below 1,280 in order to 1,270 to be tested. We remain bullish biased, as long as prices trade above support trend lines and support price levels.
In the daily chart above we see how support was respected and prices started an upward bounce. Now bulls will need to close above the MA resistance found at 1,309 for the bullish case to have increased chances and for bulls to be able to reach 1,400. Concluding, we remain bullish biased, as long as prices trade above 1,260 with 1,309 our major resistance for the short-term trend. There are small bullish signs, but it will need more than that for the bullish scenario to remain valid.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: