{"id":80802,"date":"2015-11-10T07:12:47","date_gmt":"2015-11-10T12:12:47","guid":{"rendered":"http:\/\/countingpips.com\/?p=80802"},"modified":"2015-11-10T07:41:05","modified_gmt":"2015-11-10T12:41:05","slug":"gold-consolidates-following-nfp-induced-loses","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/11\/gold-consolidates-following-nfp-induced-loses\/","title":{"rendered":"Gold Consolidates Following NFP Induced Loses"},"content":{"rendered":"<div id=\"inves-44876705\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 10, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>Gold prices consolidated for a second straight trading session following a large drop on Friday in the wake of the stronger than expected U.S. payroll report.\u00a0 On Monday, there was a report that said that the ECB was preparing for a drop in its deposit rate from the current level of -0.2%, which would further undermine the value of the Euro.\u00a0 French IP also declined which make the dollar more attractive eroding golds value.<\/p>\n<p>French industrial production rose 0.1% month over month in September, against expectations for a correction from the 1.7% month over month jump in August. Manufacturing production was unchanged over the month, after jumping 2.2% month over month in the previous month.<\/p>\n<p>Support on gold prices are seen near the July lows at 1,076, while resistance is seen near the 5-day moving average at 1,098.\u00a0 Additional resistance is seen near the recent breakdown level at 1,120. Momentum remains negative with the MACD printing in the red with a downward sloping trajectory.\u00a0 The only caveat is that the RSI (relative strength index) is printing a reading of 28, which is below the oversold trigger level of 30 and could foreshadow a correction.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/11\/gold-111015.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-9750\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/11\/gold-111015-300x194.jpg\" alt=\"gold-111015\" width=\"300\" height=\"194\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p><div id=\"inves-1744162852\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime Gold prices consolidated for a second straight trading session following a large drop on Friday in the wake of the stronger than expected U.S. payroll report.\u00a0 On Monday, there was a report that said that the ECB was preparing for a drop in its deposit rate from the current level of -0.2%, [&hellip;]<\/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-80802","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/80802","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=80802"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/80802\/revisions"}],"predecessor-version":[{"id":80806,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/80802\/revisions\/80806"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=80802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=80802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=80802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}