empty
 
 

2017.04.2702:50:00UTC+00Fxwirepro: Gold Recovers Slightly from Recent Low, Geopolitics Eyed

  • Gold rebounded slightly after a recent sharp dip following French elections and attention turned to geopolitical risks on the Korean peninsula where U.S planned to set up a sophisticated anti-missile system.  The yellow metal jumped almost $10 from the low made yesterday and is currently trading around $1267 0.02% lower.
     
  • Markets has shown very little reaction to the new tax plan unveiled by Donald Trump. The top corporate tax rate of all business will be lowered from 35% to 15%.  
     
  • U.S 10 year bond yield shown a minor decline after jumping till 2.33% and is currently trading around 2.31%.
     
  • Gold has taken support near 200- day MA and shown a minor jump from that level. Any break below 200 –day MA ($1256) will drag the yellow metal down till $1245 (50% retracement of $1195 and 1295)/$1239 (100- day EMA).
     
  • On the higher side, near term resistance is around $1273 (23.6% retracement of $1295 and $1259) and any break above targets $1284/ $1295 (Apr 17th high)/$1300/$1318 (161.8% retracement of $1295 and $1265).

    It is good to sell on rallies around $1267-$1270 with SL around $1280 for the TP of $1256/$1245. 

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback