Antony_NPBFX
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XAU/USD: general review on 26/04/2017
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
Along with other commodity assets, gold has been moving downward since the beginning of the previous week. Simultaneous fall of US dollar may be explained by the fact that positive geopolitical and economic factors for the American economy remain relevant. These include expectations of Trump's tax reform, increase of interests rates by the Federal reserve, and reduction of FOMC balance. Strengthening European currencies also became more attractive for the investors. Technical picture confirms the influence of fundamental factors. After active growth of gold for 4 months the price met strong resistance where the lines of two trends (brown D1 and black H4) met the critical resistance level of 1.3000.
Today the market is waiting for a secondary release on oil reserves from the US Department of Energy at 16:30 (GMT+2). The most important publications this week will be the data on the US GDP on Friday. Until then the correction of gold is likely to continue.
Support and resistance
Support levels: 1250.00, 1230.00, 1210.00.
Resistance levels: 1265.00, 1280.00, 1300.00.
Trading tips
Short positions may be opened at the market price with targets at 1250.00, 1230.00 and stop-loss at 1272.00.
Long positions may be opened from the level of 1265.00 with targets at 1280.00, 1300.00 and stop-loss at 1250.00.
The period of implementation shall be 1-2 days.
Use more opportunities of the NPBFX analytical portal: trading signals for commodities
How can a trader determine if it’s worth buying or selling XAU now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.
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
Along with other commodity assets, gold has been moving downward since the beginning of the previous week. Simultaneous fall of US dollar may be explained by the fact that positive geopolitical and economic factors for the American economy remain relevant. These include expectations of Trump's tax reform, increase of interests rates by the Federal reserve, and reduction of FOMC balance. Strengthening European currencies also became more attractive for the investors. Technical picture confirms the influence of fundamental factors. After active growth of gold for 4 months the price met strong resistance where the lines of two trends (brown D1 and black H4) met the critical resistance level of 1.3000.
Today the market is waiting for a secondary release on oil reserves from the US Department of Energy at 16:30 (GMT+2). The most important publications this week will be the data on the US GDP on Friday. Until then the correction of gold is likely to continue.
Support and resistance
Support levels: 1250.00, 1230.00, 1210.00.
Resistance levels: 1265.00, 1280.00, 1300.00.
Trading tips
Short positions may be opened at the market price with targets at 1250.00, 1230.00 and stop-loss at 1272.00.
Long positions may be opened from the level of 1265.00 with targets at 1280.00, 1300.00 and stop-loss at 1250.00.
The period of implementation shall be 1-2 days.
Use more opportunities of the NPBFX analytical portal: trading signals for commodities
How can a trader determine if it’s worth buying or selling XAU now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.
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.