Gold 2014-10-30

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GOLD 1204

Gold between deflation & Dollar hike

market managed to activate more drop pressure over Gold after FOMC rate projections for rising interest rate next year

while economic data from Europe and China showing slow down which may cause more deflation in prices which will affect Gold for more drop also

from another hand , Investors still concern over Global Economic Growth which spurred demand for Gold in the last 3 weeks

market managed to fell below 1221 yesterday where managed to execute our short-sell orders as we advised before

market still showing ability to test 1195-97 zone , while more drop toward 1180-85 still available

market may obtain short-run trading zone between 1180 – 1246 zone

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1195-97 1208
Level 2 1180-85 1216
Level 3 1160 1226
Short term strategy: keep trades we sold at 1221 , stop loss above 1226, target 1197………
place new order to long-buy at 1185 , stop loss at 1173 , target 1240


or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss