Gold Technicals October 5, 2015
Anton Kolhanov | Oct 05, 2015 04:59AM ET
Main scenario:
The pair is trading along an uptrend with target on 1152, that may be expected to continue in case the market rises above resistance level 1140.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1124, which will be followed by moving down to support level 1108.
Weekly Forecast, 5 - 9 October
Main scenario:
The pair is trading along an uptrend with target on 1152, that may be expected to continue in case the market rises above resistance level 1140.
Alternative scenario:
An downtrend will start as soon, as the pair drops below support level 1124, which will be followed by moving down to support level 1108.
Monthly forecast, October 2015
Main scenario:
The pair is trading along an sideways trend between resistance 1170 and support 1108 levels. An downtrend will start as soon, as the pair drops below support level 1108, which will be followed by moving down to support level 1080.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1170, which will be followed by moving up to resistance level 1224.
Long-term Forecast: September - November, 2015
Main scenario:
The pair is trading along an downtrend with target on 970 - 880 and may be expected to continue, while pair is trading below resistance level 1170.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1170, which will be followed by moving up to resistance level 1325 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1560 or we will have correction to 1170.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.