Antony_NPBFX
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XAU/USD: gold remains under pressure 05.03.2018
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
Gold prices continue moderate growth on March 5, developing "bullish" dynamics, the reason for which last week, in addition to technical factors, were the fears of the market regarding the aggravation of trade relations between the US and other countries after Donald Trump announced import tariffs on aluminum and steel.
At the same time, more confident growth of gold price is still hampered by the prospects for an increase in the Fed's interest rate this year, the first of which is projected to take place at the end of March.
Support and resistance
Bollinger Bands in D1 chart demonstrate a gradual decrease. The price range is not changing, while remaining spacious enough given the high activity level in the market. Until the clarification of the situation, the channel trading strategy should be followed.
MACD indicator is growing preserving a weak buy signal (histogram is above the signal line). There is an opportunity to maintain the existing long positions and open new ones in the short and/or ultra-short term.
Stochastic is showing similar dynamics preserving stable upward direction. One should consider buying in the short term.
Resistance levels: 1331.80, 1340.68, 1344.35, 1350.00.
Support levels: 1325.17, 1320.60, 1315.65, 1306.70.
Trading tips
To open long positions, one can rely on the breakout of 1331.80 mark, provided that the showing of technical indicators do not contradict the development of the "bullish" trend. Take-profit – 1340.68 or 1344.35. Stop-loss – 1325.17. Implementation period: 2-3 days.
The rebound from the level of 1325.17 as from resistance, with the subsequent breakdown of 1320.60 mark, can become a signal to the resumption of sales with targets at 1310.00 or 1306.70. Stop-loss should be placed no further than 1330.00. Implementation period: 2-3 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
Gold prices continue moderate growth on March 5, developing "bullish" dynamics, the reason for which last week, in addition to technical factors, were the fears of the market regarding the aggravation of trade relations between the US and other countries after Donald Trump announced import tariffs on aluminum and steel.
At the same time, more confident growth of gold price is still hampered by the prospects for an increase in the Fed's interest rate this year, the first of which is projected to take place at the end of March.
Support and resistance
Bollinger Bands in D1 chart demonstrate a gradual decrease. The price range is not changing, while remaining spacious enough given the high activity level in the market. Until the clarification of the situation, the channel trading strategy should be followed.
MACD indicator is growing preserving a weak buy signal (histogram is above the signal line). There is an opportunity to maintain the existing long positions and open new ones in the short and/or ultra-short term.
Stochastic is showing similar dynamics preserving stable upward direction. One should consider buying in the short term.
Resistance levels: 1331.80, 1340.68, 1344.35, 1350.00.
Support levels: 1325.17, 1320.60, 1315.65, 1306.70.
Trading tips
To open long positions, one can rely on the breakout of 1331.80 mark, provided that the showing of technical indicators do not contradict the development of the "bullish" trend. Take-profit – 1340.68 or 1344.35. Stop-loss – 1325.17. Implementation period: 2-3 days.
The rebound from the level of 1325.17 as from resistance, with the subsequent breakdown of 1320.60 mark, can become a signal to the resumption of sales with targets at 1310.00 or 1306.70. Stop-loss should be placed no further than 1330.00. Implementation period: 2-3 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.
