Forex trading signals and analysis for GOLD – 28 Aug 2014

Forex trading signals and analysis for GOLD – 28 Aug 2014

Analysis:

Gold is trading sideway with bias downtrend after dropped down below 1300. Yesterday Gold faced strong rejection at 1287 zone but Gold failed to break 1282 to move down lower.

Gold closed yesterday above 1282 and it is moving up to 1285 now. We expect Gold will continue to move up to test 1287 – 1290 zone again today. Another fail to break out this zone will lead to strong down move to 1272 – 1274 or 1260 zone today.

XAUUSDDaily - 28 Aug 2014

Forex Trading Signals:

We will watch for signals to sell Gold around 1287 – 1290 to trade in line with the current momentum.

Resistant zone:

– 1299 – 1301

– 1290 – 1292

Support zone:

– 1270 – 1272

– 1258 – 1260

– 1240 – 1242

ForexSignals247

 

 

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