Forex trading signals and analysis for GOLD – 18 Aug 2014

Forex trading signals and analysis for GOLD – 18 Aug 2014

Analysis:

Gold was expected to break 1305 support level to close below 1300 on last Friday, however Gold closed above 1303 after large sold off to 1292 – 1294 zone. This was caused by the Ukraine news which sparked the risk off event.

How the Gold move today will depend on whether there is any escalating in Ukraine – Russia tension and 1312-1314 zone is the key resistant area for the buyer if they want to push gold higher. Currently gold is trading below 1300 and if there is another large sell off during European session today, gold will likely break 1292-1294 zone to move down further to 1282-1284 area.

XAUUSDDaily - 18 Aug 2014

Forex Trading Signals:

We will watch for signals to sell gold around 1312-1314 today.

Support zone:

– 1299 – 1301

– 1291 – 1293

-1283 – 1285

Resistant zone:

– 1313 – 1317

– 1323 – 1325

–  1331 – 1333

-1341 – 1343

ForexSignals247

 

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