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

Gold/Silver Technical Outlook August 4, 2016

04 August 2016
GOLD (XAUUSD)

04_08_2016_gold.jpg

XAU/USD declined on the fears of strong US Labor Market data which is to be published on Friday. Investors fixed their profit. This resulted in a downtrend. Most of long trades seem to be closed. We expect some further price sliding during the day. According to our opinion, the price may target 1346,00 and form a range after.

There is the uptrend on the Weekly chart as the price is above the MA55. Some factors exert pressure over USD and we expect further growth of Gold prices.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is below the MA55. Yesterday’s long trades were closed at breakeven. Our advice to partially fix positions was right. Today we advise to avoid trading.



SILVER (XAGUSD)

04_08_2016_silver.jpg

Silver is under a stronger pressure than Gold. The downtrend is clear. We could advise to open short trades. However, the decline is too strong and the price reached the lower side of the MA-channel. The risk are too high.

There is the uptrend on the Weekly chart as the price is above the MA55. Some factors exert pressure on USD and we expect precious metals to grow in the upcoming couple of days.

The Bears are dominating on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. Today we advise to avoid trading as the price is close to the lower side of the MA-channel.

Back to analytics