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FxWirePro: Gold closed below 20 – day MA, good to sell on rallies

  • Gold continuing its weakness and declined $20 yesterday. The yellow metal hits intraday low of $1325.10 and trading at $ 1327. US dollar has shown good recovery almost 60 pips from the low of 89.22 and is trading at 89.85.
     
  • The yellow metal selling was only of short covering in USDJPY.  USDJPY broken resistance is at 107.65 (10- day MA) and jumped till 107.90. The yen and gold are moving in tandem with each other on safe haven demand.
     
  • On the lower side, any break below $1318 (55- day EMA) will drag the gold down till 1316 (38.2% fibo)/$1309. Bearish continuation only if it breaks below $1305 level.
     
  • The near term resistance is around $1341 and any close above will take the commodity till $1348/$1355. Overall bullish continuation only above $1366.

It is good to sell on rallies around $1332-35 with SL around $1341 for the TP of $1321/$1316.

 

 

 

 

 

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June 22 14:30 UTC Released

USECRI Weekly Annualized

Actual

3.1 %

Forecast

Previous

2.7 %

June 22 14:30 UTC Released

USECRI Weekly Index

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150.1 %

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149.3 %

January 31 00:00 UTC 206990206990m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 206990206990m

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2016 bln ARS

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January 22 19:00 UTC 218810218810m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 206990206990m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 218810218810m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 206990206990m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 206990206990m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 206990206990m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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