Home Forex Analysis And Forecasts Forex Analysis Gold Bears can't quench the thirst for profits 18/02/2015

Forex Analysis Gold Bears can’t quench the thirst for profits 18/02/2015

Yesterday Gold came out from the flat and went roughly down. Bulls couldn't do anything oppose. If the trend goes down we have to join Bears.

The price is below the moving average 20 MA and 200 MA, indicating the downward trend.
MACD histogram is below the zero line.
The oscillator Force Index is in correction, but under the 0-th level.
 

If the level of support is broken, you shall follow recommendations below:

  • Timeframe: H4
  • Recommendation: Short Position
  • Entry Level: Short Position  1203.44
  • Take Profit Level: 1185.04 (1840 pips)
  • Stop Loss Level: 1207.58 (414 pips)

If the price rebound from support level 1203.44, you shall follow recommendations below:

  • Timeframe: H4
  • Recommendation: Long Position
  • Entry Level: Long Position  1206.36
  • Take Profit Level: 1219.58 (1322 pips)
  • Stop Loss Level: 1203.40 (296 pips)

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