XAU/USD: gold price is consolidating 19.02.2018
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on the XAU/USD for a better understanding of the current market situation and more efficient trading.
Current trend
On Friday, gold prices stepped off the local highs due to the correctional moods favorable for USD after US positive macroeconomic building sector and consumer confidence data, which has significantly exceeded the experts’ expectations. The moon calendar New Year celebrations contributed to the decrease of demand for gold.
The instrument is under pressure due to the expectations of the further Fed’s monetary policy tightening. In March, the planned interest rate rise by 25 basis points is expected. Gold as an asset, which does not generate an interest income, is very sensitive to any changes in the interest rate in the market.
Support and resistance
On the daily chart, Bollinger Bands reversed horizontally. The price range is widening from above, letting the instrument to reach new local highs. It is better to use channel trading strategy until the situation is clear.
MACD is growing, keeping moderate buy signal (the histogram is above the signal line). It is possible to keep current long positions in the short term but not to open new ones.
Stochastic has reversed downwards, reacting to the “bearish” dynamics appearance on Friday. It is possible to open new short positions in the short or very short term.
Resistance levels: 1350.00, 1357.15, 1365.68.
Support levels: 1344.35, 1334.08, 1327.03, 1319.85.
Trading tips
Long positions can be opened after the breakout of the level 1357.15 with the targets at 1365.68 or 1370.00 and stop loss 1350.00. Implementation period: 2–3 days.
Short positions can be opened after the breakout of the level 1344.35 with the target at 1334.08 and stop loss 1350.00. Implementation period: 2 days.
Use more opportunities of the NPBFX analytical portal: economic calendar
Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on XAU/USD and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on the XAU/USD for a better understanding of the current market situation and more efficient trading.
Current trend
On Friday, gold prices stepped off the local highs due to the correctional moods favorable for USD after US positive macroeconomic building sector and consumer confidence data, which has significantly exceeded the experts’ expectations. The moon calendar New Year celebrations contributed to the decrease of demand for gold.
The instrument is under pressure due to the expectations of the further Fed’s monetary policy tightening. In March, the planned interest rate rise by 25 basis points is expected. Gold as an asset, which does not generate an interest income, is very sensitive to any changes in the interest rate in the market.
Support and resistance
On the daily chart, Bollinger Bands reversed horizontally. The price range is widening from above, letting the instrument to reach new local highs. It is better to use channel trading strategy until the situation is clear.
MACD is growing, keeping moderate buy signal (the histogram is above the signal line). It is possible to keep current long positions in the short term but not to open new ones.
Stochastic has reversed downwards, reacting to the “bearish” dynamics appearance on Friday. It is possible to open new short positions in the short or very short term.
Resistance levels: 1350.00, 1357.15, 1365.68.
Support levels: 1344.35, 1334.08, 1327.03, 1319.85.
Trading tips
Long positions can be opened after the breakout of the level 1357.15 with the targets at 1365.68 or 1370.00 and stop loss 1350.00. Implementation period: 2–3 days.
Short positions can be opened after the breakout of the level 1344.35 with the target at 1334.08 and stop loss 1350.00. Implementation period: 2 days.
Use more opportunities of the NPBFX analytical portal: economic calendar
Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on XAU/USD and trade efficiently with NPBFX.