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| Technical Analysis for Gold 9-7-2015 |
Gold moved yesterday in the average movement of 175 PIPs, its highest level at 1164.49 and the lowest price at 1147.07 and closed at 1157.48 to Gain 27 pips According to yesterday’s economic data.
Gold opened today's trading at 1158.43 and went up to 1166.48 to face resistance area which expected to fall down from it
Gold moves in a series of down corrective waves around 78.6% fibo
It is expected that the yellow metal is heading targeting 1147 as the target on time frame of four hours and till now we see the Bears control on market direction and the Bulls waits the first Support Level to enter the market
And the Relative Strength Indicator "RSI" show us distribution operations at the market
Today at 12:30 we are looking for Unemployment Claims from USA.
Today we could see sharp trading because of the economic data from USA
Support levels: 1148.20 and 1138.92 and 1130.78
Resistance levels: 1165.62 and 1173.76 and 1183.04
For More Technical Outlook FxStations
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