LiteForex_Official

XAU/USD: general analysis

FX_IDC:XAUUSD   GOLD / US DOLLAR
66 0 1
Current trend

The Federal Reserve will hold its September meeting next week, and now market volatility is likely to be increasing amid publications of data on the US economy. Today attention needs to be paid to statistics on jobless claims and retail sales. Economists expect the number of initial jobless claims to increase from 259,000 to 265,000 and the volume of retail sales to fall by 0.1%. If the indicators come out better than market consensus, the US Dollar             is likely to get support that would lead to a fall in the pair.

Support and resistance

The nearest support level is at 1319.25.
The nearest resistance level is at 1325.66.

Trading tips

Short positions can be opened from the level of 1318.00 with the target at 1315.00 and stop-loss at 1320             .00.
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