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[QUOTE="Antony_NPBFX, post: 165337, member: 38727"] [size=5][b]XAU/USD: gold is growing 03.06.2019[/b][/size] Good afternoon, dear forum visitors! [url=http://www.npbfx.com/?utm_campaign=company&utm_medium=forumpost&utm_source=earnforex]NPBFX[/url] offers the latest release of analytics on XAU/USD for a better understanding of the current market situation and more efficient trading. [B]Current trend[/B] At the end of the last trading week, gold prices rose substantially, renewing the highs since the end of March this year. Strengthening the instrument was a response of the market to the promises of Donald Trump to introduce import duties on all Mexican goods if Mexico does not restrict the flow of illegal migrants. Taxes can be introduced as early as June 10th. Investors are extremely sensitive to such Trump’s statements because the new import duties threaten a significant slowdown in global economic growth and the possible development of a recession. The price is additionally supported by increased expectations of the Fed’s interest rates decrease. The latest macroeconomic data from the United States indicated a further weakening of a number of sectors of the American economy, so investors try to avoid risk more. [B]Support and resistance[/B] On the daily chart, Bollinger bands move flat. The price range actively expands but not as fast as the "bullish" sentiment develops. The MACD is growing, keeping a strong buy signal (the histogram is above the signal line). Stochastic is directed upwards but is close to its highs, which indicates that the instrument may be overbought in the super short term. It is better to keep current long positions and wait for additional signals from the indicators before opening new positions. Resistance levels: 1312.52, 1318.31, 1324.35. Support levels: 1306.17, 1300.50, 1297.00, 1293.84. [img]http://businesspr-finance.com/wp-content/uploads/2019/06/xau-3.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2019/06/xau-4.png[/img] [b]Trading tips[/b] Long positions can be opened after the breakout of 1312.52 with the target at 1324.35. Stop loss is 1306.17. Implementation period: 1–2 days. Short positions can be opened after a rebound from 1312.52 and the breakdown of 1306.17 with the target at 1293.84 or 1288.49. Stop loss is 1315.00. Implementation period: 2–3 days. [b]Use more opportunities of the NPBFX analytical portal: trading signals for commodities.[/b] How can a trader determine if it’s worth buying or selling XAU/USD now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on XAU/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex]NPBFX[/url]. [/QUOTE]
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