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Analytics Analysis of metals

Gold and Silver Technical Outlook September 15, 2016

15 September 2016
GOLD (XAUUSD)

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XAU/USD stopped its downside tendency although we expected it to slow down. However, we gave no trading recommendations yesterday. There is a large number of important US data today and the results may influence further fluctuations.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was some moderate growth last week. However, the price was unable to break through the trend line. Those fluctuations resulted in a reverse of tendency. This week we expect the negative dynamics to continue.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. It is better to avoid trading today as the trend is still unclear.



SILVER (XAGUSD)

15_09_2016_silver.jpg

This asset is trading within a triangle and we expect it to break through the pattern during American session. The direction is to be established by the results of the US data.

There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD reached the trendline at 20,00 and reversed. We expect the downside dynamics to continue this week.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. It is better to avoid trading today as there are no signs of any trend.

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