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The gold could be well-buoyed by rising demand for safe haven assets

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 5, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

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    XAUUSD Daily 05-01-2016 04-32-33 ص.jpg
    The demand for safe haven could send gold up to $1083.23, before residing for trading again near $1075 with easing of the selling pressure in the equities markets.

    The gold could have a higher low at $1057.98, after it could show ability to hold above $1046.08 per ounce which has been reached on this Dec. 3 to be its lowest reached level since Jan 2010.

    After yesterday rebound, XAUUSD daily Parabolic SAR (step 0.02, maximum 0.2) is now below its trading rate for the second day reading $1048.18.

    XAUUSD daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility is having now its main line in the neutral region reading 53.916 and also its signal line which is reading now 34.579.


    Important levels: Daily MA50 @ $1084.01, Daily MA100 @ $1111.30 and Daily MA200 @ $1140.37

    S&R:

    S1: $1057.98
    S2: $1046.08
    S3: $1000
    R1: $1089.70
    R2: $1097.86
    R3: $1110.94

    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    walid.s@trade-24.com
    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143
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    http://www.trade-24.com/daily-analysis

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