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Analytics Analysis of metals

Gold/Silver Technical Outlook July 27, 2016

27 July 2016
GOLD (XAUUSD)

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XAU/USD continues to trade within a range according to our expectations. Lack of dynamics is due to the fact that the market waits for the results of the FOMC meeting today. We do not give any recommendations as situation may develop in any way.

There is the uptrend on the Weekly chart as the price is above the MA55. XAU/USD decline goes on and everything depends on FOMC members decisions this week.

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 as we expect no significant fluctuations until the end of the FOMC meetings.



SILVER (XAGUSD)

27_07_2016_silver.jpg

Silver continues to trade within a tight range awaiting for the results of the FOMC meetings. We will be able to give any further recommendations after the end of the event. It is better to avoid trading today as sharp fluctuations are probable.

There is the uptrend on the Weekly chart as the price is above the MA55. We expect XAG/USD to decline this week.

As for the Hourly chart, there is no trend here as the MA-channel is horizontal and the price is close to the MA55. It is better to avoid trading today as we expect no significant fluctuations before the end of the FOMC meetings.

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