Day trading strategies on currency pair GOLD 25-08-2016 by AzaForex forex broker, advice that will help in reaching your forex goals

Do not trade on the foreign exchange market without reading these tips.
As we thought earlier the price of Gold began to fall lower and lower. Although this rate is still low we can earn good money. We have already opened a short position on Gold, and the purpose has almost been reached. And now having paper profit we can safely trade with this precious metal, not being afraid of losing something. But we are optimistic and believe that our technical analysis in conjunction with the trading strategies on Gold will bring us a good result. Tomorrow, on the background of the news release, the price of Gold could fall further as investors and traders who have opened a real account with Forex brokers will prefer to invest in riskier assets than Gold, thus automatically reduce its cost. It is true that for years value of Gold does not change, the only changes are in value of the dollar or any other currency, which is paid to buy Gold. We used to say that the Gold rises or falls in value. A right answer should sound as a dollar, for which we buy Gold, fell or rose in price. After all, this precious metal in a certain way is a standard like meter or kilogram. If the value of the currency devalued, the price of Gold increases. If investors prefer to invest in other commodity assets and need funds, they can close the position in Gold and thus release funds for the maintenance margin requirements on other more volatile and profitable exchange instruments. 
The price is below a simple moving average 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 1323
•             The level of profit and close the position: 1311 (1200 pips)
 
 
Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.3150
 
Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.1300
 
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 99.50
 
Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9630