403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Gold Signal Today - 15/10: Maintains Support (Chart)
(MENAFN- Daily Forex) Potential Signal:
Monday is a relatively quiet session as far as economic announcements are concerned, so a lot of this will come down to the idea of whether or not traders are looking at the Federal Reserve, or if they are looking at the potential of geopolitical issues.
Nonetheless, I think the most important thing you need to pay attention to with a lack of news is going to be a technical analysis in general AnalysisThe technical analysis of course is very positive for the gold market, as we have seen the market form some type of bullish flag, and therefore I think a lot of people will be paying close attention to it to see if we can break out to the upside.Ultimately, if the market were to break out to the upside, the $2800 level is the essential“measured move”, based on the previous flagpole.Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money Furthermore, we also have the 50 Day EMA near the $2550 level that is rising, which obviously will attract the attention of a lot of technical traders as potential dynamic support and a way to measure the overall trend.If we were to break through the 50 Day EMA, it would obviously be a major turn of events in this market, but right now I just don't see anything to suggest that could happen easily.On the breakout to the upside, I think that we will see a lot of“FOMO trading” coming back into the market, as gold market has been such a great performer for so many traders out there. All things being equal, markets do tend to move in the same direction over the longer term, and therefore I think we've got a scenario where it's obviously a bullish market, so quite frankly on dips, I'd be looking for signs of value that I can take advantage of.Ready to trade
today's
Gold prediction ? Here's a list of some of
the
best
XAU/USD
brokers
to check out.
- I am a buyer of gold, and at this point in time I refuse to short this market. If we were to break above the $2690 level, then I believe this market is one that you have to be a buyer of, perhaps with a stop loss near the $2660 level. I'd be aiming for $2775 above.
Monday is a relatively quiet session as far as economic announcements are concerned, so a lot of this will come down to the idea of whether or not traders are looking at the Federal Reserve, or if they are looking at the potential of geopolitical issues.
Nonetheless, I think the most important thing you need to pay attention to with a lack of news is going to be a technical analysis in general AnalysisThe technical analysis of course is very positive for the gold market, as we have seen the market form some type of bullish flag, and therefore I think a lot of people will be paying close attention to it to see if we can break out to the upside.Ultimately, if the market were to break out to the upside, the $2800 level is the essential“measured move”, based on the previous flagpole.Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money Furthermore, we also have the 50 Day EMA near the $2550 level that is rising, which obviously will attract the attention of a lot of technical traders as potential dynamic support and a way to measure the overall trend.If we were to break through the 50 Day EMA, it would obviously be a major turn of events in this market, but right now I just don't see anything to suggest that could happen easily.On the breakout to the upside, I think that we will see a lot of“FOMO trading” coming back into the market, as gold market has been such a great performer for so many traders out there. All things being equal, markets do tend to move in the same direction over the longer term, and therefore I think we've got a scenario where it's obviously a bullish market, so quite frankly on dips, I'd be looking for signs of value that I can take advantage of.Ready to trade
today's
Gold prediction ? Here's a list of some of
the
best
XAU/USD
brokers
to check out.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Comments
No comment