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Analytics Analysis of metals

Gold/Silver Technical Outlook September 1, 2016

01 September 2016
GOLD (XAUUSD)

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XAU/USD break through the weekly support level at 1310,00 and there is the probability of further decline. The main reason for the downtrend to develop is the expectations that FOMC will take the decision to raise interest rates in the nearest future. The probability of interest rates growth in September is about 25%. As for December, this probability is about 55%. The expectations growth and exert pressure on XAU/USD. The price did not reach the balance line, offering no opportunities to open short trades.

There is the uptrend on the Weekly chart as the price is above the MA55. Another attempt to break through the trendline failed and this fact lead to price decline. We expect this downside dynamics to continue this week.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. WE advise to open short trades from the MA55 area. Place stops above the balance line.



SILVER (XAGUSD)

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Silver is trading within a triangle and we expect XAG/USD to break through it today. You may think it is strange to wait for some movement today on the eve of the important US Labor Market data. However, we do not expect Silver to continue fluctuations within this triangle. You may place short order at 18,58. However, this tactics is too risky as stops should be far from the order price in this case.

There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD goes towards the red trendline and the price may reach 17,50 in the nearest future.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. You may place a short order if you wish.

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