{"id":59702,"date":"2014-09-02T10:26:45","date_gmt":"2014-09-02T14:26:45","guid":{"rendered":"http:\/\/countingpips.com\/?p=59702"},"modified":"2014-09-02T10:46:05","modified_gmt":"2014-09-02T14:46:05","slug":"xauusd-forex-technical-analysis-september-02-2014","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/xauusd-forex-technical-analysis-september-02-2014\/","title":{"rendered":"XAUUSD Forex Technical Analysis September 02, 2014"},"content":{"rendered":"
September 2, 2014<\/div>
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By IFCMarkets<\/a><\/p>\n

Good afternoon, dear traders. Today we consider the gold market, the main defensive asset for investors. The EU has decided to impose a new range of sanctions in case there are no signs of the conflict mitigation with the Russian military participation within a week, as it was reported on Saturday. The uncertain situation in Eastern Europe would strengthen the precious metal position in the long term. However, at the moment we observe the bearish direction, because positive US macroeconomic data was released at the end of the last week. The tentative GDP for the third quarter appeared to outperform the forecasts: 4.2% vs. the expected 3.9%. Pending Home Sales has also climbed from 0.6% to 3.3%, which indicates the rise in consumer confidence and demand. Investors were selling precious metals and investing in American assets amid the optimistic performance of fundamental indicators. The general sentiment might weaken subsequently the gold position against the most liquid instruments of the Forex market, if the political events do not bring any new surprises.<\/p>\n

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Here we consider the XAU\/USD (Gold)<\/b> behavior on the D1 chart. The price moves within the three downtrend channels: MN, W1, D1. Therefore, there is bearish scales synchronization. ParabolicSAR and DonchianChannel confirm the general trend. There is no contradiction on the part of the RSI-Bars<\/a> oscillator, the RSI-Bars signal has already formed 2 bearish peaks. For more confidence in the market sentiment you should wait for the oscillator level intersection at 32.74%. We assume that this happens together with the fractal resistance breach at $1269.89 per troy ounce. This mark can be used for placing a pending sell order. The level is presently confirmed by DonchianChannel (13) lower boundary. The preliminary risk limitation is recommended to be placed above the last resistance at 1296.68. This level is confirmed by Bill Williams fractal and the resistance line.<\/p>\n

Note that the gold trading volume still does not confirm a new trend formation. The daily volumes of futures and options traded on the Chicago Mercantile Exchange are presented on the chart above. We can see that at the moment the volumes have not exceeded the level of 100 000 contracts, and have not risen above the trend line. For more confidence in the bearish sentiment we need to wait for the rise in volumes above this mark. You can monitor the trading volumes for this currency pair by clicking here<\/a>.<\/p>\n

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After position opening, Trailing Stop is to be moved after the ParabolicSAR values, near the next fractal peak. Thus, we are changing the probable profit\/loss ratio to the breakeven point.<\/p>\n\n\n\n\n\n
Position<\/b><\/td>\nSell<\/td>\n<\/tr>\n
Sell stop<\/b><\/td>\nbelow 1269.89<\/td>\n<\/tr>\n
Stop loss<\/b><\/td>\nabove 1296.68<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The author\u2019s position is highlighted with the dotted lines on the first chart: the breakeven point is achieved. Dear traders. You can see the detailed report of the author\u2019s account by clicking here<\/a>.<\/p>

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Market Analysis provided by IFCMarkets<\/a><\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Good afternoon, dear traders. Today we consider the gold market, the main defensive asset for investors. The EU has decided to impose a new range of sanctions in case there are no signs of the conflict mitigation with the Russian military participation within a week, as it was reported on Saturday. The uncertain […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-59702","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=59702"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59702\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=59702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=59702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=59702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}