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GOLD 25/03/2014
2014-03-25 15:37:55


The pair failed to break 1.3780 levels and stabilize below it with a daily closing as showing on graph pushing it back to the upside. The upside move is still limited below Linear Regression Indicators and 23.6% correction represented in 1.3850. Therefore, the bearish possibility remains valid.

Stochastic tends to be positive and RSI rebounded to the upside from levels around line 50, which means that trading again below 1.3780 is required to confirm negativity.

In conclusion, we prefer to remain intraday neutral in this report and recommend to follow the update of this report and the upcoming reports waiting for new confirmation signal.

 
 
 
Support 1.3810 1.3780 1.3720 1.3700 1.3665
Resistance 1.3850 1.3895 1.3945 1.3970 1.4005
Recommendation
Based on the above, we prefer to remain neutral.
 
For those who are willing to bet on the positivity of technical indicators, buy the pair above 1.3810 targeting 1.3850 and 1.3900 then 1.3945 with stop-loss below 1.3750..

 

 



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