XAU/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
In the short run the precious metal is likely to depreciate, but the longer-term outlook is bullish. At the moment the gold is undergoing a downward correction, which is expected to come to an end circa 1,135. The price should then turn around and start forming a new up-leg within the channel, in which case the first main target will be 1,157 (Sep 24 high).
On the other hand, if XAU/USD closes below the green trend-line, the bears will likely push the price towards this month's low at 1,122. In the meantime, the SWFX market participants seem not to be convinced by any of the arguments, as they are equally divided between the bulls and bears.
© Dukascopy Bank SA
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Mon, 28 Sep 2015 06:55:50 GMT

XAU/USD 1W Chart: Channel Down

The long-term outlook on gold is bearish. However, the question remains whether there is going to be an upward correction over the next several months or the sell-off is only going to accelerate. The first scenario will be confirmed if the price gains a solid foothold above the dotted line, which may be extended back to 2012 highs. In this

Mon, 28 Sep 2015 06:07:39 GMT

USD/TRY 1H Chart: Channel Up

The pattern itself might not be well-defined, but the support trend-line appears to be reliable, and right now this is the main reason to be bullish USD/TRY. Additional signals are provided by the technicals. The pair is expected to reach 3.09, namely the upper boundary pattern before it dips beneath 3.03, a breach of which will invalidate the bullish outlook.

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