Forex Trading recommendation on GOLD 24-05-2016 by AzaForex forex broker

The price of Gold continued reducing. Investors and traders didn't see their rescue in Gold. Taking into consideration that the stock market and forex are now active,  it it better to invest into forex pairs and shares. The price in the graphics is stable at the support level. If Bears will be able to reach this level we have more then 1500 points to reach next.

The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
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 1241
•             The level of profit and close the position: 1226 (1500 pips)
 
 
Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.4550
 
Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.1160
 
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 109.70
 
Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9930