XAU/USD: gold prices are rising 30.01.2019
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on XAU/USD for a better understanding of the current market situation and more efficient trading.
Current trend
Gold prices continue to rise steadily, renewing highs since May 2018. The instrument is supported by weak USD and soft Fed’s position, which implies a pause in the monetary tightening.
Investors are focused on new the complication of US-China relations before the trade negotiations on January 30-31. On Monday, the US Department of Justice officially accused the Chinese company Huawei of two dozen crimes; including violating the sanctions regime against Iran and stealing technology from the American company T-Mobile. Acting US Attorney General Matthew Whitaker said that the US would seek extradition of Huawei Finance Director Meng Wanzhou from Canada. Investors fear that the situation could undermine the prospects for a trade deal. China is unlikely to forgive it and may respond by tightening negotiating positions or creating problems for American companies operating in the PRC, for example, Apple.
Support and resistance
On the daily chart, Bollinger bands grow moderately. The price range actively expands but not as fast as the "bullish" develops. MACD grows, keeping a strong buy signal (the histogram is above the signal line). Stochastic reached its highs and reversed horizontally, reflecting that the instrument is strongly overbought the super short term.
The current indicators’ readings do not contradict the further development of the “bullish” trend in the short term. Nevertheless, the correctional dynamics can develop at the end of the week.
Resistance levels: 1314.41, 1317.17, 1320.87.
Support levels: 1308.93, 1304.21, 1298.32, 1292.69.
Trading tips
Long positions can be opened after the breakout of 1314.41 or 1317.17 with the target at 1320.87 or 1324.00. Stop loss is 1310.00 or 1308.93.
Short positions can be opened after the rebound from 1314.41 and the breakdown of 1308.93 with the target at 1298.32. Stop loss is 1314.41.
Implementation period: 2–3 days.
Use more opportunities of the NPBFX analytical portal:E-book
If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.
You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register 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 XAU/USD for a better understanding of the current market situation and more efficient trading.
Current trend
Gold prices continue to rise steadily, renewing highs since May 2018. The instrument is supported by weak USD and soft Fed’s position, which implies a pause in the monetary tightening.
Investors are focused on new the complication of US-China relations before the trade negotiations on January 30-31. On Monday, the US Department of Justice officially accused the Chinese company Huawei of two dozen crimes; including violating the sanctions regime against Iran and stealing technology from the American company T-Mobile. Acting US Attorney General Matthew Whitaker said that the US would seek extradition of Huawei Finance Director Meng Wanzhou from Canada. Investors fear that the situation could undermine the prospects for a trade deal. China is unlikely to forgive it and may respond by tightening negotiating positions or creating problems for American companies operating in the PRC, for example, Apple.
Support and resistance
On the daily chart, Bollinger bands grow moderately. The price range actively expands but not as fast as the "bullish" develops. MACD grows, keeping a strong buy signal (the histogram is above the signal line). Stochastic reached its highs and reversed horizontally, reflecting that the instrument is strongly overbought the super short term.
The current indicators’ readings do not contradict the further development of the “bullish” trend in the short term. Nevertheless, the correctional dynamics can develop at the end of the week.
Resistance levels: 1314.41, 1317.17, 1320.87.
Support levels: 1308.93, 1304.21, 1298.32, 1292.69.
Trading tips
Long positions can be opened after the breakout of 1314.41 or 1317.17 with the target at 1320.87 or 1324.00. Stop loss is 1310.00 or 1308.93.
Short positions can be opened after the rebound from 1314.41 and the breakdown of 1308.93 with the target at 1298.32. Stop loss is 1314.41.
Implementation period: 2–3 days.
Use more opportunities of the NPBFX analytical portal:E-book
If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.
You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register 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.