Tend to Target Aims Bearish gold 1570

Facebook online fad with all monitor price movements of gold, look at Monexnews, Forexfactory, esignal it suffices to estimate market entry and the open position. Because I used to open a position in the XAU / USD then the news that sought not far from the price movement of currencies USD, Rupee (because INDIA is one of the largest consumer of Gold. From Monexnews no news as follows:

• Gold fell on Friday triggered by profit taking after the movement of investors in financial markets such as the Euro and regional stocks to negative amid concern the euro zone.

But the overall movement of the Gold market is still dominated by short-term investor to buy and sell at the top and bottom range range range of movement as a whole so narrow only for $ 32 on this week, which is also the narrowest trading range in the last 3 months.
From the demand side, the collapse of the rupee in India at the same time the price of Gold in India approached the record high prices even result in a weakening demand for jewelery in India.
Technically, the glow becomes bearish intraday Gold test area at least 1571 - 1570, dropped again below that area could potentially increase the bearish pressure targeting the area in 1559 before heading to the key support level 1556. On the upside, resistance levels seen in the area near 1585 and 1590, turned back over the area have only been able to neutralize the current bearish scenario to re-examine the range of his top area in the range 1602 to 1610.
The price of gold moves up, but still moving in a narrow range. Investors are waiting for instructions and macro economic fundamental data as reference for the movement of gold.
The price of gold at $ 1,582.60 per troy ounce. In his report analyst Wing Fung Financial Group recommends that investors hold long positions in gold. Investors can open a position at 1.573 U.S. dollars / ounce in the short term target at 1.590 USD / ounce and stop loss at 1.566 U.S. dollars / ounce. Technically strong short-term resistance level in the range of 1.613 U.S. dollars / ounce.

• forecfactory seen any of the three calendar of events related to the movement of currencies USD, I do not know where the direction of movement of the USD, up or down, but at least this data allows me to be more careful, exact data are not sufficient as a capital for the open position, In my estimation because there are three red data, the possibility of USD will go up, so the gold will still be bearish. sorry this estimate is up from the beginner, so you should not be followed, but my hand open for further discussion.

see also : 

• five important things before open
• eur/usd still bearish phosphorescence
• gbp/usd overbought still fragile