View RSS Feed

FXstreet

Gold Price Awaits Data to Start 2017 Trading

Rate this Entry
by , 01-05-2017 at 05:07 PM (1346 Views)
      
   
Gold prices are trading flat this morning, ahead of today’s US ISM Manufacturing data. This is considered the first high importance US Dollar event for 2017 trading, and expectations are set for a release of 53.8. Any deviations from this value may directly affect the US Dollar, and the price of Gold.

Name:  xauusd-w1-alpari-international-limited.png
Views: 256
Size:  28.3 KB

Technically, Gold is considered in a long term downtrend as prices broke remain beneath its 200 day SMA (simple moving average) at $1,268.57. In the short term, the commodity is showing a bullish bounce off of December’s low of $1,126.85. This current bounce in price has placed Gold price back above the 10 day EMA (exponential moving average), which is currently acting as support on the daily chart below at $1,145.26.


more...

Submit "Gold Price Awaits Data to Start 2017 Trading" to Google Submit "Gold Price Awaits Data to Start 2017 Trading" to del.icio.us Submit "Gold Price Awaits Data to Start 2017 Trading" to Digg Submit "Gold Price Awaits Data to Start 2017 Trading" to reddit

Comments