Gold Holds Weekly Gains After Trump Inauguration

By | January 20, 2017

Gold futures were somewhat greater Friday in muted reaction to President Trump’s inaugural address.

Trump struck a populist tone but offered no genuine specifics on policies. The was no mention of the proposed border wall with Mexico, however the brand-new president hammered on the “America First” theme.

Feb. gold settled at $1,204.90/ oz, up $3.40, or 0.3%.

Gold was up 0.7% for the week, having actually touched a 2-month peak near $1210 on Tuesday.

In financial news, Philadephia Federal Reserve President Patrick Harker said he expects three interest rate increases in 2017 if the economy stays on track.

“I see 3 modest hikes as suitable for the coming year, assuming the economy remains on track,” Harker informed the New Jersey Bankers Association. “The economy is displaying considerable strength.”

The material has actually been supplied by InstaForex Company – www.instaforex.com

Jonathon Alexander

Daily analysis of USD/JPY for January 20, 2017 888011000 110888 Introduction The USD/JPY set attempted to breach the bearish channel’s resistance but it handled to settle listed below it, which keeps the bearish pattern circumstance valid until now. The bearish wave can be initiated that targets this channel’s support situated at 111.90. For that reason, we anticipate the bearish trend in the upcoming sessions supported by stochastic negativity. Breaching the 115.00 level and holding above it will press the cost towards 118.10 level as the very first primary target. The anticipated trading range for today is between 113.00 assistance and 115.15 resistance. The material has actually been provided by InstaForex Company-www.instaforex.com

By | January 20, 2017

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Overview

The USD/JPY pair attempted to breach the bearish channel’s resistance but it managed to settle below it, which keeps the bearish trend scenario valid until now. The bearish wave can be initiated that targets this channel’s support located at 111.90. Therefore, we expect the bearish trend in the upcoming sessions supported by stochastic negativity. Breaching the 115.00 level and holding above it will push the price towards 118.10 level as the first main target. The expected trading range for today is between 113.00 support and 115.15 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Day-to-day analysis of GBP/JPY for January 20, 2017 888011000 110888 Introduction The GBP/JPY set continued to form correctional bullish waves to approach the bearish channel’s resistance around 142.25. The price will gain back the bearish bias unless this resistance is breached. The level of 140.00 is the very first downside target in the closest and medium term. On the other hand, if the set attempts to go beyond the above mentioned resistance, it will cancel the unfavorable outlook and begin forming primary bullish predisposition to target 23.6%Fibonacci level around 143.25, followed by 145.40. Hence, we anticipate the cost to move with the bearish predisposition today. The anticipated trading range fortoday is in between 142.25 and 140.00 The product has been provided by InstaForex Business-www.instaforex.com

By | January 20, 2017

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Overview

The GBP/JPY pair continued to form correctional bullish waves to approach the bearish channel’s resistance around 142.25. The price will regain the bearish bias unless this resistance is breached. The level of 140.00 is the first downside target in the nearest and medium term. On the other hand, if the pair attempts to surpass the above mentioned resistance, it will cancel the negative outlook and start forming main bullish bias to target 23.6% Fibonacci level around 143.25, followed by 145.40. Thus, we expect the price to move with the bearish bias today. The expected trading range for today is between 142.25 and 140.00

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Daily analysis of gold for January 20, 2016 888011000 110888 Overview Gold rate bounced lower after checking the previously broken bullish channel’s assistance, which turned into resistance at $1,209.85. The cost needs to breach this level to resume the main bullish trend. The initial target lies at$1,218.55 and the next one lies at$ 1,249.94. We will keep our positive outlook in the approaching period if the rate holds above $1,197.10. Breaking this level will press the price lower towards the level of$ 1,183.83. The expected trading variety for today is between $1,197.10 assistance and$1,230.00 resistance . The producthas actually been supplied by InstaForex Business-www.instaforex.com

By | January 20, 2017

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Overview

Gold price bounced lower after testing the previously broken bullish channel’s support, which turned into resistance at $1,209.85. The price needs to breach this level to resume the main bullish trend. The initial target is located at $1,218.55 and the next one lies at $1,249.94. We will keep our positive outlook in the upcoming period if the price holds above $1,197.10. Breaking this level will push the price lower towards the level of $1,183.83. The expected trading range for today is between $1,197.10 support and $1,230.00 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Daily analysis of silver for January 20, 2017 888011000 110888 Introduction Silver resumed its upward pattern after declining the other day. The rate is approaching the correctional bearish channel resistance once again, as the EMA50 managed to secure the cost from suffering more losses. Silver continues trading with bullish predisposition, targeting the 17.43 level at first. Therefore, we wait for more upside relocations in the upcoming sessions. Breaching the targeted level will lead the silver rate towards 18.30 as the next main station, while the anticipated rise depends on the stability of the daily close above 16.56. The anticipated trading range today is in between 16.85 assistance and 17.43 resistance. The material has actually been supplied by InstaForex Company-www.instaforex.com

By | January 20, 2017

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Overview

Silver resumed its upward trend after declining yesterday. The price is approaching the correctional bearish channel resistance again, as the EMA50 managed to protect the price from suffering more losses. Silver continues trading with bullish bias, targeting the 17.43 level initially. Therefore, we wait for more upside moves in the upcoming sessions. Breaching the targeted level will lead the silver price towards 18.30 as the next main station, while the expected rise depends on the stability of the daily close above 16.56. The expected trading range today is between 16.85 support and 17.43 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

Gold analysis for January 20, 2017 888011000 110888 Recently, gold has actually been trading sideways at the rate of $1,203.00. In the 4H time frame and using the Ichimoku cloud, I discovered that there is possible space for a downward correction. I discovered cross Tenkan sen-Kijun sen which is a sign for possible weakness and it is weak sell signal on 4H timespan. Anyhow, according tothe 1H amount of time, Idiscovered that price has broken the Ichimoku cloud for disadvantage, which is also an indication of weak point. Focus on downward levels at$1,195.85 and$ 1,178.55. Look for potential selling opportunities. Resistance levels: R1: 1,203.35 R2: 1,205.30 R3: 1,208.45 Support levels: S1: 1,197.10 S2: 1,195.15 S3: 1,192.05 Trading recommendations for today: Look for selling opportunities.The material has actually been provided by InstaForex Company -www.instaforex.com

By | January 20, 2017

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Recently, gold has been trading sideways at the price of $1,203.00. In the 4H time frame and using the Ichimoku cloud, I found that there is potential space for a downward correction. I found cross Tenkan sen-Kijun sen which is a sign for potential weakness and it is weak sell signal on 4H time frame. Anyway, according to the 1H time frame, I found that price has broken the Ichimoku cloud for downside, which is also a sign of weakness. Pay attention on downward levels at $1,195.85 and $1,178.55. Watch for potential selling opportunities.

Resistance levels:

R1: 1,203.35

R2: 1,205.30

R3: 1,208.45

Support levels:

S1: 1,197.10

S2: 1,195.15

S3: 1,192.05

Trading recommendations for today: Watch for selling opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander