1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

The gold set back to $1115 per ounce on the risk appetite improving

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 29, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    XAUUSD Daily 29-01-2016 06-50-58 ص.jpg
    With the risk appetite improving, The gold pared more gains to be traded now near $1115 per ounce, after reaching $1127.80 following the Fed's outcome which has been the highest reached level since last Nov. 3.

    The gold could gather momentum, before the FOMC meeting, after getting over its daily SMA100 following surpassing $1112.75 which capped it on last Nov. 4.

    $1071.22 could help the gold previously to bounce up again above its daily SMA50 forming a floor at $1057.98 which drove the gold to start being above its daily Parabolic SAR (step 0.02, maximum 0.2) for 20 consecutive days reading today $1099.42.

    XAUUSD daily RSI-14 is referring now to existence in its neutral area reading 60.237, while its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in the neutral region reading 70.549, while its signal line is still in the overbought area above 80 reading 81.315.

    Important levels: Daily SMA50 @ $1080.41, Daily SMA100 @ $1105.73 and Daily SMA200 @ $1131.49


    S1: $1071.22
    S2: $1057.98
    S3: $1046.08
    R1: $1127.80
    R2: $1138.05
    R3: $1149.84

    Have a good day

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

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

    To open your account at Trade-24 - Click here

Share This Page