Forex trading signals and analysis for GOLD – 7 Aug 2014

Forex trading signals and analysis for GOLD – 7 Aug 2014

Analysis:

Yesterday, during EU session Gold move up tested 1292 and declined after that but could not break 1288 to move down further.  In early US session, Gold rocketed to 1309 – 1312 zone after 1292 – 1294 zone broken and closed the day above 1305. 

It looks like Gold made a False break out below 1293 and the trend of Gold now turn to bullish again. we expect Gold will move up further today with the next resistant zone for Gold is 1320 – 1325.

XAUUSDDaily - 7 Aug 14

Forex Trading Signals:

our strategy is to joint the uptrend if gold drop to 1299 – 1301 zone.

Support zone:

– 1299 – 1301

– 1291 – 1293

Resistant zone:

– 1320 – 1325

–  1330 – 1335

ForexSignals247

 

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