Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

Gold Price Analysis: Acceptance above $1821 is critical for further upside – Confluence Detector

Gold flirts with the critical $1821 barrier, hovering near nine-year highs. The XAU bulls remain poised to extend the upbeat momentum in the day ahead. Let’s see how it is positioned technically.

According to the Technical Confluences Indicator, the bright metal needs a convincing break the powerful barrier at $1821, the confluence of the multi-year high, pivot point one-month R1 and Bollinger Band one-hour Upper.

Acceptance above that level will open doors towards a test of the minor hurdle at $1830, the pivot point one-week R2.

Alternatively, plenty of healthy supports will limit the corrective declines, with the immediate cushion seen at $1815.50, which is the convergence of the Fibonacci 61.8% one-day and previous week high.

The next downside target is aligned around $1808, where the Fibonacci 23.6% one-week, SMA5 one-day and pivot point one-day S1 coincide.

Further south, the critical support at $1806 will be a tough nut to crack for the sellers. That level is the intersection of the Fibonacci 38.2% one-week, SMA10 one-day and previous day low.

Here is how it looks on the tool

 

Confluence Detector

The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.

This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence adjacents price levels. These weightings mean that one price level without any indicator or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas.

Learn more about Technical Confluence

EUR/GBP Price Analysis: Breaks 21-day SMA after EU summit’s welcome deal

EUR/GBP stays depressed around 0.9035 during the pre-European trading on Tuesday. The pair seems to have offered a little reaction to the European lea
Read more Previous

Asian stock market: EU fiscal package cheered, ASX 200 gains extra on RBA’s Lowe

Equities in Asia add on the previous gains as European leaders finally agree over 750 billion Euros of fiscal stimulus. After laborious talks of five
Read more Next