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Analytics Analysis of metals

Gold/Silver Technical Outlook August 19, 2016

19 August 2016
GOLD (XAUUSD)

19_08_2016_gold.jpg

XAU/USD traded in both directions and declined to the balance line allowing to open long trade according to our recommendation. The price then went up offering an opportunity to move stops to the breakeven level in order to protect your trades. However, stops triggered as the market was unable to move higher from the current levels. There is a probability of a negative dynamics as the price may decline after an unsuccessful attempt to go upwards.

There is the uptrend on the Weekly chart as the price is above the MA55. Another attempt to break through the trendline may be successful.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. We advise to avoid trading today.



SILVER (XAGUSD)

19_08_2016_silver.jpg

Silver slides down. XAG/USD is unable to move higher. This may result in a descending dynamics in the nearest future. It is one of the market’s rule when the price is unable to grow, it starts to go down. We advise to avoid trading today.

There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD traded within the 19,30-20,40 range as we predicted previously. This week we expect the price to decline towards the lower side of the range with further breakthrough.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. We advise to avoid trading today.

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