Start Trading Now Get Started
Table of Contents
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Gold Market Update - Gold prices are higher in U.S. trading - 10 August 2017

By Alp Kocak
Alp Kocak has been trading Forex since 2003. He writes technical analysis based on Japanese candlesticks and Ichimoku Kinko Hyo.

By: DailyForex

Gold prices are higher in U.S. trading Wednesday as investors sought safety from rising tensions between the U.S. and North Korea. XAU/USD was able to break the anticipated resistance at 1266.50, the top of the Ichimoku cloud on the 4-hour chart, and challenge the next barrier standing in the 1274/1 zone. Gold’s advance came after the impact of strong employment data last week diminished.

From a technical point of view, trading above the Ichimoku clouds indicates that there is more strength and volume behind the bulls. If the market ends the day beyond the aforementioned 1274/1 area, that would be another bullish sing and foreshadow a move up to 1282/0.

Gold Market

To the downside, keep an eye on the 1266.50-1264 area where the top of the 4-hourly cloud and the broken short-term bearish trend line converge. The bears will have to drag prices below there to tackle the intra-day support at 1258.85. A break below 1258.85 could see a fall to 1255/3.

Alp Kocak
Alp Kocak has been trading Forex since 2003. He writes technical analysis based on Japanese candlesticks and Ichimoku Kinko Hyo.

Most Visited Forex Broker Reviews