MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Gold analysis for February 01, 2016

GOLDDaily.png01.png

GOLDH1.png01.png

Overview:

Since our last analysis, gold has been trading upwards. As I expected, the price tested the level of $1.123.95 in a high volume. An intraday short-term trend is upward. So, selling looks very risky. Also. the pair is trading well above all key MA`s (SMA 50,100,150,200) in the H4 time frame. The take-profit zone is established around the level of $1,134.00 (Fibonacci retracement 61.8%, daily SMA 200). In the 30M time frame, as I expected, buyers absorbed the massive volume spike (selling climax). First intraday resistance is seen at the level of $1,127.80.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,118.10

R2: 1,118.75

R3: 1,119.80

Support levels:

S1: 1,116.00

S2: 1,115.45

S3: 1,114.50

Trading recommendations: Trading recommendations: watch for potential buying opportunities on dips.

The material has been provided by InstaForex Company - www.instaforex.com