{"id":97450,"date":"2016-10-28T10:17:02","date_gmt":"2016-10-28T14:17:02","guid":{"rendered":"http:\/\/countingpips.com\/?p=97450"},"modified":"2016-10-28T10:17:02","modified_gmt":"2016-10-28T14:17:02","slug":"gold-under-pressure","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/10\/gold-under-pressure\/","title":{"rendered":"Gold under pressure"},"content":{"rendered":"
October 28, 2016<\/div>
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Article by ForexTime<\/a><\/p>\n

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Gold edged lower on Friday with prices trading towards $1265.50 as a strengthening Dollar created a foundation for bears to install heavy rounds of selling. The yellow metal remains extremely sensitive to rate hike expectations with further losses expected if speculators boost bets over the Fed pulling the trigger this year. From a technical standpoint, Gold is firmly bearish on the daily timeframe with sellers maintaining control below $1285. Prices are trading below the daily 20 SMA while the MACD has crossed to the downside. A breakdown below $1260 could spark a further selloff towards $1245.<\/p>\n

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USDCAD Breakout!<\/strong><\/p>\n

The USDCAD experienced a sharp breakout above 1.3300 this trading week which could open the doors to further inclines this year. Dollars resurgence amid heightened US rate hike expectations and Oil weakness may be the ingredients needed to attract bulls to propel prices higher. From a technical standpoint, prices are trading above the daily 20 SMA while the MACD has crossed to the upside. Previous resistance around 1.3300 could transform into a dynamic support which open opens a path towards 1.3500 and potentially higher.<\/p>\n

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EURJPY stuck in range<\/strong><\/p>\n

The EURJPY remains range bound and has been since July. Bulls exploited the instance of Yen weakness this week to propel prices slightly higher. From a technical standpoint, the candlesticks have clipped above the daily 20 SMA while the MACD is in the process of trading to the upside. An intraday break above 115.00 could trigger an incline towards 116.00.<\/p>\n

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Silver pressured to the downside \u00a0<\/strong><\/p>\n

Silver has traded in a wide range this week with support around 17.20 and resistance at 17.75. With the Dollar potentially gaining ground amid the renewed rate hike expectations, sellers could be enticed to attack silver prices lower. From a technical standpoint, prices are trading below the daily 20 SMA while the MACD has crossed to the downside. A breakdown and daily close below could trigger a steeper decline towards 16.50.<\/p>\n

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GBPJPY bears on the prowl<\/strong><\/p>\n

Sterling weakness has ensured the GBPJPY remains depressed in the medium term. The pair is heavily bearish on the daily and a solid breach back below 126.50 could open a path lower towards 125.00.<\/p>\n

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Disclaimer: <\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Article by ForexTime Gold edged lower on Friday with prices trading towards $1265.50 as a strengthening Dollar created a foundation for bears to install heavy rounds of selling. The yellow metal remains extremely sensitive to rate hike expectations with further losses expected if speculators boost bets over the Fed pulling the trigger this year. From […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-97450","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/97450","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=97450"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/97450\/revisions"}],"predecessor-version":[{"id":97454,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/97450\/revisions\/97454"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=97450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=97450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=97450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}