XAU/USD: bears are attacking
Read the article on FBS website
Recommendation:
BUY $1254
SL $1240
TP1 $1281 TP2 $1300 TP2 $1315
On the daily chart, XAU/USD went to an important support at $1267.6 an ounce. If bears manage to conquer it, risks of continuation towards the lower border of uptrend channel will significantly increase. On the other hand, recoil to the downside will allow consolidation in the $1265-1315 range.
On H1, XAU/USD is heading towards $1254. Near it there’s a lower border of the downtrend channel, 224% target of AB=CD and historic support. This increases the risks of a pullback.
