Gold going to resistance 1563 while tradong above support 1554
|Gold, GC Futures market - Friday forecast, January 17
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 1554, which will be followed by reaching resistance level 1558.8 and 1563.
Downtrend
An downtrend will start as soon, as the pair drops below support level 1554, which will be followed by moving down to support level 1547 and if it keeps on moving down below that level, we may expect the pair to reach support level 1541.
Gold, spot market Friday forecast, January 17
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 1554, which will be followed by reaching resistance level 1558 and 1563.
Downtrend
An downtrend will start as soon, as the pair drops below support level 1554, which will be followed by moving down to support level 1547 and if it keeps on moving down below that level, we may expect the pair to reach support level 1540.
Weekly forecast, January 13 - 17
Most important news of this week
Monday: -
Tuesday: US Core CPI (YoY) (Dec)
Wednesday: US-China trade war phase 1 deal, Crude Oil Inventories
Thursday: EU ECB Publishes Account of Monetary Policy Meeting, US Core Retail Sales (MoM) (Dec)
Friday: EU Core CPI (YoY) (Dec)
Forecast and technical analysis
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 1540, which will be followed by reaching resistance level 1575 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1611.
Downtrend
An downtrend will start as from resistance 1575, as the pair drops below support level 1540, which will be followed by moving down to support level 1513.
Monthly forecast, January - February
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 1557, which will be followed by reaching resistance level 1616.
Downtrend
An downtrend will start as soon, as the pair drops below support level 1557, which will be followed by moving down to support level 1513.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.