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

USDJPYH4.png

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

GBPJPYH4.png

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