XAU/USD: general review on 21.08.2017
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
In view of continuing geopolitical risks gold together with other precious metals and safe haven assets was strengthening for almost the whole previous week.
Gold showed the best results among all other safe haven assets updating its 10-month maximum and reaching a key resistance level of $1300.00. However, on the last day of the previous week all safe haven assets, having reached important levels, moved back. This looked like locking in profits in the end of the week and indicates possible continuation of the trend with the beginning of the current week. Therefore, the main scenario for today and tomorrow is the continuation of growth of gold.
Today's fundamental news include only PMI by FRB Chicago at 14:30 (GMT + 2) and geopolitical news.
Support and resistance
Support levels: 1280.00, 1265.00, 1250.00.
Resistance levels: 1300.00, 1315.00, 1340.00.
Trading tips
Long positions may be opened at the market price with targets at 1315.00, 1340.00 and stop-loss at 1260.00.
Alternatively sell positions may be opened from the level of 1280.00 with targets at 1265.00, 1250.00 and stop-loss at 1300.00.
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
In view of continuing geopolitical risks gold together with other precious metals and safe haven assets was strengthening for almost the whole previous week.
Gold showed the best results among all other safe haven assets updating its 10-month maximum and reaching a key resistance level of $1300.00. However, on the last day of the previous week all safe haven assets, having reached important levels, moved back. This looked like locking in profits in the end of the week and indicates possible continuation of the trend with the beginning of the current week. Therefore, the main scenario for today and tomorrow is the continuation of growth of gold.
Today's fundamental news include only PMI by FRB Chicago at 14:30 (GMT + 2) and geopolitical news.
Support and resistance
Support levels: 1280.00, 1265.00, 1250.00.
Resistance levels: 1300.00, 1315.00, 1340.00.
Trading tips
Long positions may be opened at the market price with targets at 1315.00, 1340.00 and stop-loss at 1260.00.
Alternatively sell positions may be opened from the level of 1280.00 with targets at 1265.00, 1250.00 and stop-loss at 1300.00.
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.