Note: This section contains information in English only.Gold inevitably surged due to the approaching US election, as investors expressed the uncertainty that has been prevailing in markets recently. A monthly high of 1306.97 sent the pair packing to continue its way between the channel lines, possibly setting 1295.56 as the next target. This is not, however, carved in stone - while the channel has not experienced any serious tests or false breakouts, the pair has just formed a double top with a neckline at 1296.55, meaning that a close below could send strong bearish signals, and a violation of the channel bottom trend-line at 1295.56 might follow. We will, therefore, look for signals at 1296.55 to determine the general direction of a future trend.
Thu, 03 Nov 2016 08:30:22 GMT
Source: Dukascopy Bank SA