You are here: Home > articles > Commodities > Gold trading in a range $1,220-$1,245. Either side breakout trend will decide
Gold trading in a range $1,220-$1,245. Either side breakout trend will decide
January 8, 2014 6:45 amVideo
Latest News
- 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
- Trading Signals for Ethereum (ETH/USD) for April 30 – May 7, 2024: sell below $3,177 (21 SMA – 1/8 Murray) April 30, 2024
- Technical Analysis – Is US 100 setting course for new record highs? April 30, 2024
- EUR/USD. April 30th. Sellers await weak inflation data in the EU April 30, 2024
FOMC meeting minutes and Non-farm pay roll numbers attract investors attention. The jobs data reflects on the gold prices. Fed will start tampering in January. If the US economy keeps on turning healthy, then Fed will completely scale back its bond purchasing program in upcoming meetings. Last week we mentioned regarding the interest rates. If we look into the year of 2015, there is a vast chances to increase its interest rates in the next year. Fed committed low interest rates at zero in 2014.
Gold prices discounted the factor of FOMC meeting minutes. Yellow metal wiped out its 1 week profit partially. In Asian’s trading session gold is trading at the level of $1,228 below its 21 DEMA. Price below 21 DEMA is not good for longs. In terms of bull factor, prices are holding above $1,220 favour to bulls.
Support $1,220 $1,215 $1,200
Resistance $1,232 $1,238 $1,246
In the hourly charts, oscillators show some pull back possible, and the daily chart indicates the sign of overbought levels. Today’s trend decider is the level $1,226.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: