Trading Gold under Brexit and Bremain scenarios
Major support - $1252 (21 day MA)
The bullion has declined slightly below 21 day EMA and is currently trading at $1262.92.
Any violation below 21 day MA will drag the pair down till $1235 (90 day EMA)/$1212 (38.2% retracement of $1046 and $1315.25)/$1199.
On the higher side major intraday resistance is around $1275 (7 day EMA) any indicative break above targets $1288 (daily Tenkan-Sen)/$1300/$1315 (200 W MA)
EU referendum results are expected to hit the markets between 2 GMT to 4 GMT on Friday. Voting has started in EU referendum as opinion polls say result too close to call.
Polling stations will open at 6:00 GMT and close at 21:00 GMT .
Trading strategies if UK Stays in EU:
It is good to sell below $1252 with SL around $1275 for the TP of $1235/$1212/$1198.
Trading strategies if UK leaves EU:
It is good to buy above $1275 with SL around $1260 for the TP of $1
The bullion has declined slightly below 21 day EMA and is currently trading at $1262.92.
Any violation below 21 day MA will drag the pair down till $1235 (90 day EMA)/$1212 (38.2% retracement of $1046 and $1315.25)/$1199.
On the higher side major intraday resistance is around $1275 (7 day EMA) any indicative break above targets $1288 (daily Tenkan-Sen)/$1300/$1315 (200 W MA)
EU referendum results are expected to hit the markets between 2 GMT to 4 GMT on Friday. Voting has started in EU referendum as opinion polls say result too close to call.
Polling stations will open at 6:00 GMT and close at 21:00 GMT .
Trading strategies if UK Stays in EU:
It is good to sell below $1252 with SL around $1275 for the TP of $1235/$1212/$1198.
Trading strategies if UK leaves EU:
It is good to buy above $1275 with SL around $1260 for the TP of $1