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

Gold and Silver Technical Outlook January 30, 2017

30 January 2017

GOLD (XAUUSD)

30_01_2017_gold.jpg

Gold offered an opportunity top sell on Friday from the MA13 and the price was in the profit area allowing to take 3-4USD. However, weaker than expected US Prelim GDP data reversed the price upwards. There was an opportunity to protect your trades by placing stop losses at breakeven level. We think that XAU/USD is able to resume its upside tendency in the next couple of days.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The upside correction failed to proceed however, we expect XAU/USD to go upwards after a strong decline last week.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is above the MA55 balance line. We advise to avoid trading today as the situation is still unclear.

SILVER (XAGUSD)

30_01_2017_silver.jpg

Silver offered an opportunity to sell from the MA13 and there was a chance to take about 10 pips of profit. it was enough to protect your trades by placing stop loss at breakeven level. We can see a sharp reverse at the moment and the price is far from the balance line.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. The correction growth stopped last week but we think XAG/USD still has an opportunity to resume its upside tendency after a significant decline in the nearest future.

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 at the moment as the situation is still unclear.


Back to analytics