Current trend
Gold is showing growth today in view of negative assessment of yesterday's Fed meeting. The regulator kept the interest rate unchanged on the level of 1.25% which together with acknowledged low level of inflation and uncertainty about the terms of increasing the rates and the beginning of balance reduction disappointed the investors and caused intensive sales of the US currency.
Support and resistance
On D1 chart the pair was corrected to the upper part of Bollinger Bands. The price range has widened, which may indicate possible continuation of the upward movement. MACD histogram is near the zero mark with its volumes at minimum, and the signal line is about to cross the zero mark from below giving a signal for opening long orders.
Support levels: 1256.30, 1242.90, 1231.30, 1215.50, 1204.30.
Resistance levels: 1267.30, 1281.50, 1295.30.
Trading tips
Long positions may be opened from the current level with target at 1267.30 and stop-loss at 1260.00. The period of implementation is 2-3 days.
Short positions may be opened from the level of 1254.50 with targets at 1249.00 and stop-loss at 1256.50. The implementation period is 3-5 days.
Gold is showing growth today in view of negative assessment of yesterday's Fed meeting. The regulator kept the interest rate unchanged on the level of 1.25% which together with acknowledged low level of inflation and uncertainty about the terms of increasing the rates and the beginning of balance reduction disappointed the investors and caused intensive sales of the US currency.
Support and resistance
On D1 chart the pair was corrected to the upper part of Bollinger Bands. The price range has widened, which may indicate possible continuation of the upward movement. MACD histogram is near the zero mark with its volumes at minimum, and the signal line is about to cross the zero mark from below giving a signal for opening long orders.
Support levels: 1256.30, 1242.90, 1231.30, 1215.50, 1204.30.
Resistance levels: 1267.30, 1281.50, 1295.30.
Trading tips
Long positions may be opened from the current level with target at 1267.30 and stop-loss at 1260.00. The period of implementation is 2-3 days.
Short positions may be opened from the level of 1254.50 with targets at 1249.00 and stop-loss at 1256.50. The implementation period is 3-5 days.