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Analytics Analysis of metals

Gold/Silver Technical Outlook September 5, 2016

05 September 2016
GOLD (XAUUSD)

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XAU/USD had a clear uptrend right after the US Labor Market data on Friday. The number of new payrolls did not meet forecasts and the Average Earnings growth slowed down to the minimum percentage. Investors waited for stronger results. The expectations of the Interest Rates growth this year declined and the prices went upwards. We expect XAU/USD to continue its growth in the next couple of days. However, today there is a bank holiday in the USA and the volumes are too low.

There is the uptrend on the Weekly chart as the price is above the MA55. XAU/USD declined last week and that restored almost all lost positions. We expect some moderate growth this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. We expect some consolidation today.



SILVER (XAGUSD)

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Silver resumed its growth because of the worse than expected US Labor Market data. The upside dynamics may continue in the nearest future.

There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD resumed its growth targeting 20,00 level.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55. There is no sense to consider long trades at the moment as the price is close to the upper side of the MA-channel

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