19.09.201608:50 Forex Analysis & Reviews: Technical analysis of Gold for September 19, 2016

Long-term review

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Gold price is showing signs of a short-term trend reversal. Gold is in a downtrend channel since September 7th and has approached the lower trading range boundary of $1,300. Gold bulls are now trying to break out of the short-term bearish channel.

Red lines - bearish short-term channel

Blue lines - long-term trading range

Gold price remains below the 4-hour Ichimoku cloud. Short- and medium-term support is at $1,300-$1,305. Resistance is at $1,330 and next at $1,360. Medium-term trend is neutral as price remains inside the long-term trading range. As long as Gold is above $1,300 I prefer long positions with a tight stop.

On a daily basis Gold is inside the Kumo (cloud) implying trend is neutral. This is confirmed technically also by the trading range in effect. Price has reached the 38% medium-term Fibonacci retracement and the short-term 78.6% Fibonacci retracement. If Gold is going to start a new upward move it will be from this area. Otherwise we should prepare for a sell-off towards $1,250-$1,260 at first and then even deeper towards $1,200-$1,180.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.