XAU/USD: uncertainties
Read the article on FBS website
Recommendations:
SELL 1180 SL 1195 TP1 1160 TP2 1151 TP3 1130
BUY 1215 SL 1200 TP1 1245 TP2 1265 TP3 1285
On the daily chart of XAU/USD, 1,180-1,215 consolidation keeps going. A break of its upper boundary will implement the “Crab” pattern with the 161.8% target. On the contrary, the hit of the support at 1,180 will let bears move to the 161.8% target of the AB=CD pattern.
On H1, the “Broadening wedge” pattern is forming. An unsuccessful break of the resistance at 78.6% of the 4-5 wave let bears counterattack. To continue the downward movement, bears need to test the support at 1,180.
