Friday, October 20, 2017

Gold analysis for 20.10.2017

Even the better than expected Treasury yields could not support USD against Gold however, gold will be under pressure due to geopolitical issues about North Korea. The support rests at 1274.95 with resistance at 1291.95 which both lines are below the weekly pivot point at 1296.23. The EMA of 10 is moving horizontally in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is falling towards the oversold area, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The ADX is showing sell signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend. Short positions are recommended towards 1270. https://fxglory.com/gold-analysis-for-20-10-2017/

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