Advantages of Trading Gold at Merit Forex

No Storage and Security Cost

As you don’t own the asset, it is a theoretical order to buy or sell a certain amount of gold totally free of additional charges.

Operational Liquidity and Lower Commission

The spread is tighter, and you are able to enter and exit positions easily irrespective of the trade size with low commission.

Gain Greater Profit for Your Initial Capital

Because of the trade with the leverage option, you can make higher profits from small fluctuations in the market price of Gold.

AUDUSD

The AUDUSD pair is now testing the 0.6848 daily level. If the price stays above 0.6848, on a daily basis, the rise may continue and the main resistance level can be seen at 0.6909. On the other hand, if the price drops below 0.6848, the next support level will be at 0.6798.

Support : 0.6848 - 0.6798 - 0.6729

Resistance : 0.6909 - 0.6965 - 0.7020

06 Dec 19 (Fri)
11:52 am

USDZAR

The USDZAR pair moved up above the 14.5625 daily support level. As long as the price stays above 14.5625, on a daily basis, the resistance level can be seen at 14.8380. Although, if the pair breaks down 14.5625, we will see the next support level at 14.1865.

Support : 14.5625 - 14.1865 - 13.8789

Resistance : 14.8380 - 15.1896 - 15.4801

06 Dec 19 (Fri)
08:39 am

AUDJPY

The AUDJPY pair is trading above the 74.29 daily support level. As long as the pair stays above 74.29, on a daily basis, the rise may continue and the resistance level can be found at 75.15. In contrast, if the price drops below 74.29, the next support level will be at 73.64.

Support : 74.29 - 73.64 - 72.94

Resistance : 75.15 - 76.26 - 76.98

06 Dec 19 (Fri)
08:30 am

NZDUSD

The NZDUSD pair extended gains and it is now trading above the 0.6543 daily support level. As long as the price stays above 0.6543 on a daily basis, the upward movement may continue and we will follow the major resistance level at 0.6611. On the other hand. If the price drops below 0.6543, the next support level will be placed at 0.6488.

Support : 0.6543 - 6488 - 0.6425

Resistance : 0.6611 - 0.6673 - 0.6728

06 Dec 19 (Fri)
08:02 am

GOLD

Watch out for the major resistance level of 1478 in the Gold Price. In order for the upward movement to gain more power, it needs to break out and stay above 1478 on a four hourly basis. In this case, the next resistance level will be at 1492. On the downside, the support level can be seen at 1466.

Support : 1466 - 1453 - 1440

Resistance : 1478 - 1492 - 1509

06 Dec 19 (Fri)
06:58 am

USDJPY

The USDJPY pair is now trading below the 108.79 support level. If the price stays below 108.79 on a four hourly basis, we will follow the daily support level at 108.52. Otherwise, if the price goes above 108.79, we will face 109.09 as the daily resistance level.

Support : 108.52 -108.14 - 107.82

Resistance : 108.79 - 109.09 - 109.39

06 Dec 19 (Fri)
06:50 am

GBPUSD

Keep your eye on the 1.3136 main support level. If the pair stays above 1.3136 on a four hourly basis, the main resistance level will be at 1.3231. In contrast, if the pair drops below 1.3136, the next daily support level can be found at 1.3046.

Support : 1.3136 - 1.3046 - 1.2947

Resistance : 1.3231 - 1.3313 - 1.3392

06 Dec 19 (Fri)
06:36 am

EURUSD

Ahead of US Non-Farm Payrolls, we will closely watch the key resistance level of 1.1114. In order for the rise to gain more power, it needs to go beyond and stay above 1.1114 on a four hourly basis. Should this occur, we will see 1.1165 as the daily resistance level. Otherwise, we will face the support level at 1.1052.

Support : 1.1052 - 1.0979 - 1.0837

Resistance : 1.1114 - 1.1165 - 1.1237

06 Dec 19 (Fri)
06:34 am

The Importance of Gold in the Financial Market

What is the role of the Gold in the global financial market? Why is it one of the major investment instruments globally? Read more about it.

Forex Gold Market Strategies

Do you need a strategy guidance to start investing in Gold? How to build the most profitable strategy and interpret the market trends?

What Influences the Price of Gold?

Do you know what affects the price of Gold? Which indexes must be monitored on a regular basis? What are the dynamics of Gold market?

Do you want to learn more about Forex Markets?
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Risk Warning | Merit Forex Trading in leveraged products such as Forex and Contract for Differences (CFD's) involves significant risk and you may not only lose all of you invested capital but also sustain losses in excess of your deposited funds. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. You should seek independent financial advice prior to applying for opening a trading account with the Company.

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