Market Cap:
$223B
BTC Dominance:
66.10%
btc:
$8,190.18
eth:
$174.00
xrp:
$0.29
Advertise
Forex

3 Oct 2014 XAU/USD Gold Analysis

3 Oct 2014 XAU/USD Gold Analysis

XAUUSD, XAU/USD, Gold, Gold bullion, commodity, commodities, precious metals, metals, gold price, gold price forecast, gold price outlook, XAUUSD analysis, XAUUSD technical analysis, XAUUSD outlook, XAUUSD price, XAU/USD analysis, XAU/USD forecast, XAU/USD outlook, XAU/USD price, XAU/USD technical analysis, XAU/USD analysis, XAUUSD forecast Gold consolidates between the retracement levels with no clear trading direction at the moment. 1206 support holds strong for yesterday’s trading while 1204 was attained

XAUUSD, XAU/USD, Gold, Gold bullion, commodity, commodities, precious metals, metals, gold price, gold price forecast, gold price outlook, XAUUSD analysis, XAUUSD technical analysis, XAUUSD outlook, XAUUSD price, XAU/USD analysis, XAU/USD forecast, XAU/USD outlook, XAU/USD price, XAU/USD technical analysis, XAU/USD analysis, XAUUSD forecast On the H4 timeframe we can see the recently developed downtrend channel as the price of gold edges closer towards 1200

XAUUSD, XAU/USD, Gold, Gold bullion, commodity, commodities, precious metals, metals, gold price, gold price forecast, gold price outlook, XAUUSD analysis, XAUUSD technical analysis, XAUUSD outlook, XAUUSD price, XAU/USD analysis, XAU/USD forecast, XAU/USD outlook, XAU/USD price, XAU/USD technical analysis, XAU/USD analysis, XAUUSD forecast A likely retest in the 1208 region will give an excellent entry for buy for the intraday trader, with caution in mind before the U.S NFP later today.

Gold prices consolidate ahead of the U.S NFP as the direction for the commodity prices against the strengthening U.S dollar requires confirmation before investors enter the markets. A fail to break higher than 1230 will see price of gold retest 1208 and break through the 1200 barrier, especially if the jobless rate decreases and jobs creation comes off as positive for the U.S dollar, bringing forward the end of QE and the increased chances of increasing interest rates. This may prompt more people to sell off their gold and move to relatively more rewarding instruments.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bearish119012031208121512201226120812031230

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

Premium Brokers

Your capital is at risk.