| Trade Idea GOLD (Spot) intraday: the bias remains bullish. |
Pivot: 1747.00
Our Preference: LONG positions above 1747 with 1788 & 1800 as next targets. Alternative scenario: The downside penetration of 1747 will call for a slide towards 1724 & 1716. Comment: the RSI is supported by a bullish trend line. |
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Gold – Gold Continues to Benefit from Fed Action
Gold was able to hold onto its recent gains on Friday, as risk taking in the marketplace continued to result in investors shifting their funds to higher-yielding assets over the course of the day. The precious metal approached $1778 an ounce during early morning trading, its highest level in six and a half months.
This week, gold traders will want to keep their eye on economic data out of the euro-zone. With Germany, the EU’s biggest economy, set to release several key economic indicators, gold could see additional gains if the news signals any improvements in the euro-zone economic recovery. That being said, the precious metal could reverse its current trend if the news comes in below expectations. Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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