Technical analysis of Gold for May 20, 2015
May 20, 2015 9:00 amVideo
Latest News
- Forecast for EUR/USD on April 16, 2024 April 16, 2024
- Forecast for GBP/USD on April 16, 2024 April 16, 2024
- Forecast for AUD/USD on April 16, 2024 April 16, 2024
- Outlook for GBP/USD on April 16. Pound awaits inflation data April 16, 2024
- Outlook for EUR/USD on April 16. Another boring Monday April 16, 2024
- The euro hardly has a chance to rise April 16, 2024
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
- Technical Analysis – Goldman Sachs stock gains on strong earnings April 15, 2024
- Trading Signals for ETH/USD (Ethereum) for April 15-17, 2024: buy above $3,125 (200 EMA – 2/8 Murray) April 15, 2024
- Analysis for EUR/USD on April 15th. Monday – a tough day for the euro April 15, 2024
- GBP/USD: trading plan for the US session on April 15th (analysis of morning deals) April 15, 2024
- EUR/USD: trading plan for the US session on April 15th (analysis of morning deals). Euro is at an impasse April 15, 2024
- GBP/USD: Will sterling hold steady against dollar? April 15, 2024
- Technical Analysis – USDJPY rallies to another fresh 34-year high April 15, 2024
- Will Netflix earnings take the share price closer to its record highs? – Stock Markets April 15, 2024
The strong housing data pushed the commodities like gold and crude to lower levels from the recent highs. The metal closed at the lowest level in a week after the strong US dollar. Today, ahead of the FOMC meeting, the yellow metal is trading at $1,208.50 compared to $1,207.40 Tuesday’s close. The nearest support is found at $1,205.50 rounded to $1,205.00. Intraday resistance is seen at $1,212.00, $1,217.50, and $1,223.00. The weekly resistance is seen at $1,233.00 100Wema. We advised buying above $1,200.00 again at $1,210.00 and $1,220.00 with a final target at $1,233.00 (ref: May 14th article). The metal made a high at $1,232.00 rejected at 100Wema and fell to 100Dema. Today, we expect wild moves ahead of the FOMC meeting. The level of $1,205.00 acting as trend decider because100Dema and descending trend-line is found there. At yesterday’s session, the metal pauses the 5-day winning streak. In case the key support level is taken off $1,200, the price fill reach $1,198.00 and $1,192.00 in a day or two. The metal is trading below 20Wsma $1,213.00. For bulls, safe buying will trigger above $1,212.00 at $1,217.00, $1,219.00, and $1,223.00. Risky traders can buy with sl $1,205.00 cmp $1,208.50.
To contact the author of this analysis, please email- [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: