empty
 
 
17.11.2020 02:14 PM
Analysis of Gold for November 17,.2020 - Contraction on the GOld with potential for the breakout
EU governments reportedly not ready for common virus testing procedures for travel

Reuters reports, citing a EU document on the matter

This is a bit of a blow to airlines and the leisure sector as there is said to be divisions among EU states on the use of rapid antigen tests for travel.

The lack of a common testing procedure will only serve to draw up more discrepancies on what is actually "safe" to allow travel across Europe, with airlines having been pressing for governments to use alternatives to blanket movement curbs.

Ironically, the document was initially labelled as "progress report" but has been renamed because it actually signified a lack of progress instead. Classic.

This image is no longer relevant

Further Development

This image is no longer relevant

Analyzing the current trading chart of Gold, I found that the Gold is contraction prior to the Retail Saes in US and that there is potential for the news downside wave.

1-Day relative strength performance Finviz

This image is no longer relevant

Based on the graph above I found that on the top of the list we got Lumber and Cocoa today and on the bottom Ethanol and Nikkei 225

Key Levels:

Resistance: $1,900

Support levels: $1,850 and $1,828.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback