Forex trading! S: support.adamantfinance M: info@adamantfinace.com Registration
Analytics Analysis of metals

Gold and Silver Technical Outlook January 19, 2017

19 January 2017

GOLD (XAUUSD)

19_01_2017_gold.jpg

Gold failed to continue its growth yesterday as US CPI data met the expectations. Janet Yellen underlined that inflation overcame 2% barrier and FOMC is going to rise Rates. FOMC plans to hike Interest Rates thrice this year. Fed holds its tendency that is good for USD. Rise of inflation is good for XAU/USD as investors are looking for shelter assets (like Gold). However, inflation is not too high for Gold to grow aggressively.

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 no trend on the Hourly chart as the MA-channel is neutral and the price is below the MA55 balance line. We think that market participants are going to break current tendency. You may open short trades from the trendline. Place stop losses above the line.

SILVER (XAGUSD)

19_01_2017_silver.jpg

Silver declined to the MA55 balance line allowing long trades but it was too late for trading. US CPI data met the expectations and there was no significant growth after this release. Silver is going to follow Gold which is reversing its tendency at the moment.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was a correctional growth last week according to our expectations. We think that the upside tendency 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 below the MA55 balance line. We advise to avoid trading today as the situation is still unclear.


Back to analytics