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

Gold and Silver Technical Outlook October 12, 2016

12 October 2016
GOLD (XAUUSD)

12_10_2016_gold.jpg

XAU/USD failed to develop its correctional; growth as we have expected previously. Long trades from the MA55 balance line. The price is within a tight range and we advise to observe further dynamics before taking any decision. It is important to pay attention to the FOMC Meeting Minutes today as it may have serious impact on XAU/USD.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was a breakthrough of the red trend line last week. We expect the precious metal to correct this week.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55 balance line. It is better to take no decisions at the moment as there is no clear trend on the chart.



SILVER (XAGUSD)

12_10_2016_silver.jpg

The uptrend is still actual for XAG/USD. However, the price is fluctuating around the MA55 balance line. It is to say that the uptrend is unstable and may reverse at any time. We think that it is better to avoid trading XAG/USD at the moment. In addition, we advise to pay attention to the FOMC Meeting Minutes today as they may have serious impact on XAG/USD

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The price declined according to our expectations last week. We expect some correctional moves 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 take no decisions at the moment as the situation is still unclear.

Back to analytics