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Analytics Analysis of metals

Gold and Silver Outlook June 15, 2016

15 June 2016
GOLD (XAUUSD)

15_06_2016_gold.jpg

XAU/USD trend slows down although it is still actual. The price fluctuations may slow down as well before the FOMC meetings today. After the event XAU/USD may start a new rally or a downtrend depending on the results of the meetings. However, XAU/USD still has some support from the upcoming British Referendum and you have to remember about it.

The Weekly chart shows the uptrend as the price is above the MA55. The modest growth in gold targeting the broken trendline may continue.

The Hourly chart shows the uptrend as the price is above the MA55. The MA-channel goes upwards. The speed of the growth slows down. I recommend waiting for the results of FOMC meetings.


SILVER (XAGUSD)

15_06_2016_silver.jpg

Silver price grow slowly due to the expectations on British referendum. However, the main driver today is the FOMC meetings and the decision on interest rates as well as FED chief Janet Yellen comments.

The Weekly chart shows the uptrend as the price is above the MA55. There is still some growth potential although the rise may resume through a correction.

The Hourly chart shows the uptrend as the price is above the MA55. The MA-channel goes upwards, although its speed slows down. I do not give any recommendations for today because of the upcoming FOMC meetings.

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