{"id":5804,"date":"2010-01-12T12:18:33","date_gmt":"2010-01-12T17:18:33","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5804"},"modified":"2010-01-12T12:18:33","modified_gmt":"2010-01-12T17:18:33","slug":"gold-hangs-around-1150oz","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/01\/12\/gold-hangs-around-1150oz\/","title":{"rendered":"Gold Hangs Around $1150\/oz"},"content":{"rendered":"

By Fast Brokers <\/strong>– Gold is hovering back around its psychological $1150\/oz level in reaction to consolidation in the EUR\/USD and GBP\/USD.\u00a0 However, gold has gained some nice upward momentum so far this month after separating itself from the highly psychological $1100\/oz area.\u00a0 Meanwhile, we notice trend line inflection points approaching in both the EUR\/USD and GBP\/USD.\u00a0 Hence, despite present inactivity the FX markets could be headed for some volatility.\u00a0 That being said, investors should monitor for any trend-setting movements in the major Dollar crosses, primarily the EUR\/USD, GBP\/USD, and AUD\/USD, while keeping gold\u2019s negative correlation with the Greenback in mind.\u00a0 The Fed will release its Beige Book tomorrow followed by key employment data from Australia during the Asia trading session.\u00a0 Furthermore, we\u2019ve got U.S. Retail Sales and an ECB meeting coming on Thursday.\u00a0 Therefore, activity in the markets could heat up for the first time in 2010.<\/p>\n

Technically speaking, gold has multiple uptrend lines serving as technical cushions along with intraday, 1\/8, 12\/30, and 12\/22 lows.\u00a0 Meanwhile, gold\u2019s psychological $1150\/oz area could continue to play a role for the near-term.\u00a0 As for the topside, gold faces technical barriers in the form of 12\/7 and 11\/18, 11\/23, and 11\/27 highs along with the psychological $1175\/oz level.
\nPresent Price: $1147.20\/oz<\/p>\n

Resistances: $1153.92, $1157.68\/oz, $1162.07\/oz, $1165.20\/oz, $1169.27\/oz, $1173.66\/oz<\/p>\n

Supports: $1146.72\/oz, $1143.90\/oz, $1138.57\/oz, $1134.50\/oz, $1130.43\/oz, $1126.36\/oz<\/p>\n

Psychological: $1175\/oz, $1150\/oz, January and December highs, January lows<\/p>\n

(click to enlarge)<\/p>\n

\"\"<\/a><\/p>\n

Market Commentary<\/strong><\/em> provided by Fast Brokers<\/strong>.<\/a><\/p>\n

Disclaimer:<\/strong> FastBrokers\u2019 market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell\/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.<\/p>\n

Risk Disclosure:<\/strong> There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Fast Brokers – Gold is hovering back around its psychological $1150\/oz level in reaction to consolidation in the EUR\/USD and GBP\/USD.\u00a0 However, gold has gained some nice upward momentum so far this month after separating itself from the highly psychological $1100\/oz area.\u00a0 Meanwhile, we notice trend line inflection points approaching in both the EUR\/USD … <\/p>\n

Continue reading “Gold Hangs Around $1150\/oz”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5804","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=5804"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5804\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}