Gold Analysis As At August 14 (updated) - forex trading account canada

Gold Analysis As At August 14 (updated) ~ forex trading account canada

 

Is Gold Starting to Move Up or Is This A False Start?

 

It may well be that it is time to re examine your gold trading strategy as there may be some opportunities very soon.

You will see some interesting things in these charts and also in the articles lower on the page. The devaluation of the Yuan and the increased position in Gold by China have excited the metal.

 

This first chart is a monthly chart on Gold showing three drives to the bottom and that will be a bullish pattern.

 

 

Today, price met the pivot and reversed.

 

The resistance is in the 25% retracement area, which leads me to wonder if this reversal is very strong. Perhaps we will know next week if this is a retrace and that we will see a stronger advance.

The Ichimoku chart demonstrates that a great rise in price will encounter a lot of resistance as price meets the Ichimoku cloud. There has been downward pressure on the price of Gold for many months, only for a short time could it attempt to push through the cloud.

Here is the Point and Figure chart for Gold, it is not showing any great signs of an advance.

 

 

Here are some recent articles discussing various aspects of the gold market

 

XAU/USD Corrects Lower To 1114 - Action Forex

http://news.google.com Fri, 14 Aug 2015 08:41:00 GMT

XAU/USD Corrects Lower To 1114Action ForexXAU/USD Corrects Lower To 1,114. A further decline in volatility may reverse some of bullions recent safe-haven inspired gains. - HSBC (based on CNBC). Pairs Outlook. Gold declined on Thursday, as worri ...

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FxWirePro Gold rallies finally - Stay on with XAU-USD diagonal call spreads ... - EconoTimes

http://news.google.com Fri, 14 Aug 2015 10:21:00 GMT

EconoTimesFxWirePro Gold rallies finally - Stay on with XAU-USD diagonal call spreads ...EconoTimesAlthough XAUUSD has finally shown a bounce back after long streaks of bear candles but its reversal is yet be confirmed by other indicators. It has sho ...

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Gold (XAUUSD) Big Picture Triangle Still In Play, Resistance Zone Eyed - CFD Trading

http://news.google.com Fri, 14 Aug 2015 12:06:00 GMT

CFD TradingGold (XAUUSD) Big Picture Triangle Still In Play, Resistance Zone EyedCFD TradingThe rebound in gold continues towards a major zone of resistance between 1130 and 1160. This area constitutes the November low at 1130, March low at 1142, and ...

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Gold is Crashing! No, Wait, its Booming! So Whats Really Going on With Gold? - TIME

http://news.google.com Fri, 14 Aug 2015 14:59:00 GMT

TIMEGold is Crashing! No, Wait, its Booming! So Whats Really Going on With Gold?TIMEGold is a little strange as far as commodities go. You dont run your car on gold. It doesnt heat your home, and you cant eat it. It doesnt generate profits or p ...

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Why Now Is A Great Time To Buy Gold - Forbes

http://news.google.com Fri, 14 Aug 2015 07:29:47 GMT

ForbesWhy Now Is A Great Time To Buy GoldForbesWith golds recent decline to below $1,100 an ounce, I believe today is one of the best times to own gold. My three reasons for buying gold that I discussed in February have remained valid. I now want to ...

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Golds loud message to stock bulls - MarketWatch

http://news.google.com Fri, 14 Aug 2015 18:33:00 GMT

Golds loud message to stock bullsMarketWatchGold is a controversial metal. Some people hate it as an investment because it provides no income, and is a "relic of the past.” Some people love it, arguing it is the safest form of currency in the world ...

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China reveals increase in gold holdings - Financial Times

http://news.google.com Fri, 14 Aug 2015 10:30:46 GMT

Motley FoolChina reveals increase in gold holdingsFinancial TimesChina released data on its gold holdings for the second time in a month on Friday in a sign of greater transparency as it moved to an international standard of reporting its reserves. T ...

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Gold Caps Biggest Rally Since June as Haven Appeal Shines Again - Bloomberg

http://news.google.com Fri, 14 Aug 2015 15:16:34 GMT

ForbesGold Caps Biggest Rally Since June as Haven Appeal Shines AgainBloombergGold capped the biggest weekly gain in two months as the metals haven appeal finally started attracting investors again. Chinas unexpected yuan devaluation this week roil ...

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