Forex trading signals and analysis for GOLD – 22 Aug 2014

Forex trading signals and analysis for GOLD – 22 Aug 2014

Analysis:

Gold continued to fall down in the last 4 days after breaking the range and testing 1292 – 1294 zone on last Friday. Yesterday, Gold continued to decline from early Asian session and closed the day below 1278 – 1280 and it is clearly that the bearish momentum is very strong now. We expect Gold will continue to move lower in the next coming days, given no change in Ukraine – Russia tension.

The next support zone for Gold will be 1258-1260 and the short term resistant zone is 1283 – 1285, 1290 – 1292.

XAUUSDDaily - 22 Aug 2014

Forex Trading Signals:

We will watch for signals to sell Gold around 1283 – 1285 and 1290 – 1292 to trade in line with the current momentum.

Resistant zone:

– 1299 – 1301

– 1290 – 1292

-1283 – 1285

Support zone:

– 1258 – 1260

– 1240 – 1242

ForexSignals247

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