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

Gold/Silver Technical Outlook September 9, 2016

09 September 2016
GOLD (XAUUSD)

09_09_2016_gold.jpg

The attempt to get closer to 1350,00 was weak and was unsuccessful. The price declined after this attempt, touched long order and then closed it by stop. The current situation is clear. Investors need important reasons to buy XAU/USD. The uptrend may continue only if further US data disappoints market participants. We advise to wait until the next week and follow the US data carefully.

There is the uptrend on the Weekly chart as the price is above the MA55. Gold price declined last week but regain positions by the end of Friday. We expect some moderate growth 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 balance line with stops above the curve.



SILVER (XAGUSD)

09_09_2016_silver.jpg

XAG/USD failed to approach 20,00 level and went towards the MA55 balance line yesterday. There was an opportunity to open a long trade, but your positions would be closed by stop as the price was unable to resume the uptrend. There is the downtrend at the moment and it is better to open short trades from the MA55 area. However, we advise to establish small targets as this downside move is a part of a correction.

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

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 with stops above the curve.

Back to analytics