Forex forecast gold course on 16.09.2016

16 сентября 2016 - Fx4News

Quotes of gold remain under Dr. ION, the metal traded at around a minimum of 2 weeks. On Thursday, traders sent a note to the American statistics, whichshows a mixed trend, in an attempt to assess the chances of increasing US control rates next week.

The pair remained under pressure on Thursday. Bears retain control over the market. Sellers cut the price below $ 1316 in the US session on Thursday. Futures on gold remained below the moving average of 50, 100 and 200, which act resistance for the price. On the 4-hour chart has crossed the 50 EMA 100 EMA and the 200 EMA in the downward direction. Moving averages continue to decline. Resistance is located at 1316 support - 1,300 per ounce.

MACD remained the same, indicating that sellers gain positions. RSI approaches oversold territory.

Forecast for today gold

The movement of the price will depend largely on US statistics. Breakdown level of 1316 support the further weakening of the precious metal. Market attention is now directed to the level of 1310. If the level of stand, the price may recover above 1316. If the price overcomes this level, the downward movement will continue.

Based on materials WELTRADE