For a long time we have not paid our attention to gold, but in vain - it rushed up like from a cannon. China is one of the most massive buyers of precious metal, and therefore determine the rules of the game on it. For today, no one knows exactly what volumes are concentrated in his hands this giant. Mutual Reserve Fund, as expected earlier, raise its interest rate by 25 bp. According to the forecast, the price of gold will now grow for the next six months. So it's time for us to replenish our account with a forex broker and start buying. This is indicated by the graph of Gold. After such a strong growth on the news, the price does not go too often back, but, as a rule, continues the trend. The level of profit-taking is in the next resistance area after 1400 points. After such impulse investors of precious metal prepare their accounts for large purchases of gold.
The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
If the resistance level is broken you can use the following recommendation:
• Chart timeframe: H1
• The trade recommendation: Buy
• The level of entry into long position: 1229.00
• The level of profit and close the position: 1243.00 (1400 pips)
Forex currency pair USDCHF
Possible bearish movement in the breakdown of the support level 0.9970
Forex currency pair GBPUSD
Possible bullish movement in the breakout of the resistance level 1.2310
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 112.80
Forex currency pair EURUSD
Possible bullish movement in the breakout of the resistance level 1.0750
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