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

Gold and Silver Technical Outlook November 9, 2016

09 November 2016

GOLD (XAUUSD)

09_11_2016_gold.jpg

XAU/USD is growing on the latest US Presidential Campaign data. Donald Trump won the elections with more than 270 votes necessary to be nominated. Market participants expected Clinton to win. They were persuaded in Democratic domination as USD was in the uptrend in the beginning of this week. It is better to avoid trading at this moment as the situation remains unstable.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The upside correction reached 1306,00 last week. It is hard to predict what is going to happen this week even after the end of the elections.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is above the MA55 balance line. We advise to avoid trading before the final results of the US Presidential Campaign.

SILVER (XAGUSD)

09_11_2016_silver.jpg

Silver was also in the uptrend after latest new on the US Presidential Campaign. Donald Trump has won the election having more than 270 votes necessary to be nominated. However, the situation is still unstable and we advise to avoid trading at the moment. There is a probability of a sharp change of this tendency.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The was an upside correction according to our expectations but it is still hard to predict fluctuations this week.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is above the Moving Average with period 55. We advise to take no decisions at the moment as the situation is still far from being stable.


Back to analytics