Friday, September 6, 2013
All the indicators used in this chart can be downloaded free of cost from the download section of this website. These indicators are for MetaTrader 4 terminal.
On 29-08-2013, our technical indicators gave sell signal on EURUSD @1.3328. Since then, it started its downward journey and at the time of writing this article, it was trading at 1.3135.
It can move few pips up from this level, but it will eventually fall to 1.3034 in coming trading sessions.
1.3260 is the major resistance for this week.
Gold is currently trading around $1371 after getting sell signal from Doda-Donchian @1390.35. Doda-Bollinger bands have also confirmed sell signal. Moreover, price is trading below kumo and future kumo is also bearish.
So, all signals are negative for short term movement of Gold.
Coming to weekly pivotal points, its main resistance for this week is @1399.21. If it closes above this level on H4 time frame chart, take long positions.
On the downside, it has support around $1364.99 and $1339.66.
Keep an eye on Syria event. That can trigger Gold price upward.