Technical analysis of Gold for February 19, 2014.
February 19, 2014 6:00 amVideo
Latest News
- Michelle Bowman reiterated Jerome Powell’s opinion April 19, 2024
- The ECB has finally made up its mind April 19, 2024
- The dollar is in control April 19, 2024
- 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
Technical outlook and chart setups:
1. Gold has given its first signal of a potential retracement built up. Having reversed from $1,333.00, the metal is expected to retrace at least towards $1,270.00/75.00 region. It is recommended to initiate short positions around $1,227.00/28.00 today, risk remains at $1,235.00.
2. Immediate resistance is at $1,360.00, while supports are spread through $1,275.00/70.00 (past resistance turned support), followed by $1,220.00/30.00, $1,210.00 and $1,180.00 respectively.
3. The structure indicates that Gold could retrace lower towards $1,270.00 levels or towards the back side of the falling resistance line which is at $1,220.00/30.00 at present.
Trading recommendations:
Initiate short positions between $1,327.00/28.00, set stop at $1,335.00, target is at $1,270.00
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: