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Analytics Analysis of metals

Gold and Silver Technical Outlook January 18, 2017

18 January 2017

GOLD (XAUUSD)

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Gold gave no opportunities to buy according to our recommendations as it failed to reach the trendline. US President’s Trump comments on USD pushed American dollar lower allowing Gold to rise up. We advise to pay attention to today’s US important data which may have considerable impact on fluctuations.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We had some 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 open long trades from the MA55 balance line. Place stop losses below the curve.

SILVER (XAGUSD)

18_01_2017_silver.jpg

Silver was trading with an upside bias and failed to move back towards the trendline. There was no opportunity to open long trades according to our recommendations. Today’s US data may push Silver higher.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. We have seen a correctional growth last week according to our expectations. 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 open long trades from the MA55 balance line. Place stop losses below the curve.


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