XAU/USD has spread its wings
Read the article on FBS website
Recommendation:
BUY $1321
SL $1305
TP $1351 TP2 $1386
On the daily chart, XAU/USD keeps rallying towards 200% target of the AB=CD pattern. The area of $1347-1352 acts as key resistance. Support is near $1320.4-1321.6. Bulls retain control, so buying on the pullbacks is the main strategy.
On H1, XAU/USD keeps forming “Spike and reversal with acceleration”. As long as the pair remains above the trend line of the first stage ($1290), the outlook is bullish.
