gold rate technical analysis forecast

4 Ideas You Can trade on gold rate

Non-Farm payroll and Employment Change didn’t push the gold rate above 1300 despite the results, it’s probably will lead to testing again the lower sides and …  

Gold behave the same way as I expected 

Unstained policymakers recognized a month ago there were dangers to the U.S. economy and proposed two more rate increments were in store this year. That was just half what they thought when they fixed strategy without precedent for 10 years toward the end of last year
The U.S. economy is on pace for development of 2.5% through the span of 2016, said Charles Evans, president of the Federal Reserve Bank of Chicago, talking in London on Monday. “The most critical key is the change of work prospects. The U.S. work market has been solid for a long while
The next fed decision Federal Funds Rate will be at 15.6.2016, so I do not expect to see some big changes before that ,also as I mention my last post on the dollar index we need to wait and see what will happen at 95-96 area

from the technical side  on the gold rate  price  :If we will look on the charts we can see support at 1224-1232+_, gold rate should keep above those level to confirm more upside, fall through could take it to the next support level of 1180-1190 . Gold rate also is expected to find its first resistance at 1262, and a rise through could take it to the next resistance level of 1286-1298, For my opinion we probably see the gold rate at least 1224-1232 area for test, if not low level such as 1180-1190

gold forecast
gold rate

From quick look on the COT table we can see: swap dealer Short positions increased while Managed Money long positions increased so we need to see who has the upper hand or who will break first, on the last round that occurs (same behaving COT position) we saw the Managed Money loose, well let’s see what will be the result this time, my bet is on lower side – see more deeps in the gold rate, the positive view for the gold rate is that  gold open interest rose to more than 500,000K contracts – we didn’t saw such amount of that since 2011   

xauusd cot
gold cot 

gold cot analysis
gold cot data
Final words:
we can see there is more room for going down follows strong moves by the expectation,
don’t surprise if we will see gold rate going lower over the last lows,For my opinion, we probably see the gold rate at least 1224-1232 area for a test, if not low level such as 1180-1190

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

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