XAUUSD (GOLD) Looking for Long.XAUUSD (GOLD) Looking for Long.
because Gold have a Support area with Fibo fan level of 0.5.
and also Gold have Support and Resistance area. and gold have Divergence area,
so it should be up.
Gold_us
XAU/USD Daily Market Report - 10/02/2016XAU/USD
Market retreated again from 1200-10 resistance zone which giving signals about ability for trading zone between 1150 - 1210
Market closing to Janet Yellen 2-days testimony while market supports 1180
Below 1180 market will face 1170 and 1150 as support levels, while resistance at 1200 and 1210
www.tradingsignalreviews.com
Gold in Down Move,Gold make a Selling Channel. and in my my View USD maybe strong because USD GDP was Growth.
Best of Luck
Will Gold resume its Bull run?The decade of bull run from ~$260 in 2001 to $1920 in 2011 (6X) on back of safe haven buying and an investment asset class ended with revival in major global indices and on track economies. The 5 years of slow and steady pain from 2011 to 2016 where gold lost 45% of its glittering from its peak might come to an end. We might witness the resumption in the bullish trend on the back of technical setups. The rationale are:
* Morning Star - bullish reversal candlestick pattern
* Falling channel support
* 38.20% Fibonacci retracement of $260 to $1920
* 2/1 Gann fan line
* 141% Fibonacci time cycle of 2001-2011 ends at January 2016
* -DI sloping southwards suggesting bears are tiring
The above view would hold till gold doesn't breach $1000 and expect the move towards $1450-1600.
GOLD (xauusd) -January ForecastGOLD (xauusd) -January Forecast continue >>> Long position: S/L - 1075.00, T/P - 1106.43
