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Analytics Analysis of metals

Gold and Silver Technical Outlook January 20, 2017

20 January 2017

GOLD (XAUUSD)

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Gold offered an opportunity to open trades according to our recommendations from the broken through trendline with stop losses above the line. There was a possibility to take profit as XAU/USD declined for 9,5$. However, there was no further decline because of US President Donald Trump inauguration which is to take place today. It is better to do nothing today.

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

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

SILVER (XAGUSD)

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Silver is following Gold but has not changed its tendency yet. We advise to do nothing today as the US President’s inauguration is to take place during the American Session.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was a correction growth according to our expectations. 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 close to the Ma55 balance line. We advise to avoid trading today as the situation is still unclear.


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