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Analytics Analysis of metals

Gold and Silver Technical Outlook January 12, 2017

12 January 2017

GOLD (XAUUSD)

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There was no opportunity to open long trades from the MA55 balance line during European session yesterday and there was no sense to open trades right before Trump speech as you had no chance to protect those positions. Market participants are waiting for further news concerning the economic growth in the United States. However, US President avoided this subject in his comments. USD lost some positions yesterday. We think that this dynamics may continue today but we give no recommendations as the price is far from the MA55 balance line.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We had a correctional growth last week and we think it is going to continue in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

SILVER (XAGUSD)

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There was no opportunity to open trades before the American session as well. You may try to open long trades from the trendline as the price is close to the MA55 balance line.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correctional growth last week and we think it is going to continue in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. You may try to open long trades from the trendline. Place stop losses below this line.


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