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.
Cancel Confirm
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.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
10 Sep 2020

Gold Price Analysis: XAU/USD path of least resistance is up after Lagarde – Confluence Detector

Gold has been extending its gains – this time seemingly supported by the European Central Bank. Optimism from the Frankfurt-based institution – allowing the euro to rise – has pushed other assets higher, including the precious metal. XAU/USD is changing hands at around  $1,960. 

US stocks are also on the move, extending their recovery from a downfall earlier in the week. Gold seems to be more and more correlated with equities. 

How is XAU/USD technically positioned? 

The Technical Confluences Indicator is showing that gold has substantial support at around $1,944, which is the convergence of the Fibonacci 38.2% one-month, the Simple Moving Average 50-4h, the SMA 100-4h, and the Fibonacci 23.6% one-day.

Another cushion awaits at $1,934, which is a meeting point including the Bollinger Band 4h-Middle, the SMA 100-1h, the Fibonacci 23.6% one-week, and the SMA 5-one-day. 

Looking up, resistance is at $1,969, which is where the Pivot Point one-day Resistance 2 hits the price. 

Higher, $1,979 is the upside target, where the PP one-week R1 awaits XAU/USD. 

Key XAU/USD resistances and supports

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.

Learn more about Technical Confluence

Sep 10, 2020

US Dollar Index weaker, drops to 4-day lows near 92.80

The greenback is now accelerating the downside and drags the US Dollar Index (DXY) to new multi-day lows in the 92.80 region. US Dollar Index depresse
Read more Previous
Sep 10, 2020

Inventaris majoristes de Estats Units registra -0.3%, sin llegar a las previsiones de -0.1% en juliol

Inventaris majoristes de Estats Units registra -0.3%, sin llegar a las previsiones de -0.1% en juliol
Read more Next