Day trading strategies on currency pair GOLD 31-08-2016 by AzaForex forex broker, profiting from valuable advice about the forex market

Tricks to make money on the foreign exchange market.
Well, one more of our trading recommendations for Gold rate has come true, the price reached the level of  take profit and we are now in profit. Having profit, we can review the market situation with calm from a different angle. The US dollar began to change rapidly in growth, and this affected the quotes of currency pairs and set the commodity market rates. In particular, Gold is traded for a dollar, and therefore the exchange rate on the charts went down. Judging by the scale of the movement, we can count on small profit in this downtrend. Therefore, if the price goes down further and breaks the local level of support, we will again open a short position with the hope of a good outcome and replenishment of our trading account.

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: 1309
•             The level of profit and close the position: 1297 (1200 pips)
 
 
Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.3165
 
Forex currency pair EURUSD
Possible bullish movement in the breakout of the resistance level 1.1120
 
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 103.40
 
Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 0.9850