Day trading strategies on currency pair GOLD 12-09-2016 by AzaForex forex broker, this knowledge is foreign exchange power all traders need to know

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Quotes of Gold, even after the release of a contradictory news package, did not create any direction and are moving inside the corridor. At the moment, we are inclined more to the fact that such a move from the level of support to the resistance level will last for a while, until the precious metal traders do not feel the thirst for profit and will not move with the trend quotes. But so far investors have expressed a strong interest to the asset, we can, on the basis of the technical analysis figures, go together with the price to reach the lower boundary of this range, which can be stopped at the level of support of 1312. We can't rely on a strong movement, cause such fluctuations from one level to another is usually sluggish. If the mood of traders and movement will change in other global markets, it is necessary to revise the already open positions in Gold, and if the US dollar weakens, we can wait for our target, and if it starts to harden, then fixing profit may be the best solution.
On the bearish sentiment indicates that the average out of the MACD histogram.
The MACD trend indicator is below zero level now, indicating bearish movement.

If the support level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Sell
•    The level of entry into short position 1324.5
•    The level of profit and close the position: 1312 (1250 pips)


Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.3220

Forex currency pair EURUSD 
Possible bullish movement in the breakout of the resistance level 1.1265

Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 101.90
 
Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 0.9720