Thursday, October 8, 2015

Gold Confused

After today's green data for the US, Gold lost traders' trust and fell to $1,137. This, however, was only a temporary decline as just a few minutes after this low the precious metal recovered back to pre-data levels.

Gold is currently trading ат $1,145 and the main short-term trend is yet to be discovered. Have in mind that today's FOMC meeting (18:00GMT) will definitely have an impact on Gold price.

Current level of support rests at $1,130 and resistance is $1,162.

Chart: XAUUSD H1


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9 comments:

  1. UnknownOctober 8, 2015 at 6:24 PM

    There's a shooting star candlestick on the daily filter chart, so I suspect it will move to the downside again.

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  2. UnknownOctober 8, 2015 at 8:53 PM

    Very well spotted,will keep it in mind!

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  3. UnknownOctober 8, 2015 at 11:07 PM

    Let’s see how low it keeps going.

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  4. bewayopaOctober 9, 2015 at 1:51 AM

    Great assessment about gold. Thank you.

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  5. UnknownOctober 9, 2015 at 2:16 PM

    Gold prices rises on the back of a weaker dollar today.

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  6. UnknownOctober 9, 2015 at 2:40 PM

    Approaching the fair value (1176).

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  7. UnknownOctober 9, 2015 at 11:16 PM

    A lot of volatility during the Fed minutes.

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  8. UnknownOctober 11, 2015 at 6:59 PM

    Huge impact from the us dollar.

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  9. UnknownOctober 11, 2015 at 7:40 PM

    Great analysis. thank you.

    ReplyDelete

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