Technical Analysis

Gold trades beneath 100 and 200 hour MAs however off lows

Down -$5.50 on the day or -Zero.44%

The value of gold traded close to a excessive development line at the moment (see crimson circle three) on the hourly chart. That Development line held and the value rotated beneath the 200 hour MA (inexperienced line at present at $1313.61) and the 100 hour MA (blue line at present at $1310.61). 

Gold is down -$5.50 on the day or -0.44%

Technically, staying beneath every will probably be extra bearish going ahead (PS the 200 hour MA is close to the topside development line making the world extra essential).  

The low at the moment reached to $1303.74. The 50% of the transfer up from the Jan 21 low is available in at $1301.57. The 61.eight% is available in at $1295.73.  Every are targets on extra promoting.

The autumn at the moment has been helped by a stronger greenback. The greenback is the strongest of the main currencies at the moment, rising vs all the main currencies with the biggest positive aspects vs the GBP, JPY and EUR. 

The US dollar is the strongest of the major currencies

ForexLive


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