Gold analysis for 15.08.2017

Gold is chiefly under the influence of the US and North Korea issue, besides, New York Fed President William Dudley’s speech put pressure on Gold. The support rests at 1269.82 with resistance at 1286.34 which the weekly pivot point at 1260.53 is located in between the lines. The EMA of 10 is moving with bearish bias but it is above the EMA of 200 and the EMA of 100. The RSI is rising towards the 50 level, the Stochastic is moving in low ranges and the MACD indicator is in positive territory. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen is showing downward trend while the Kijun-sen is showing an upward trend. The support area seems to be too strong to be broken therefore Gold will grow to 1300 area; however, in case of the price decline, sellers can target 1250. https://fxglory.com/gold-analysis-for-15-08-2017/