Check the XAU/USD chart

Check the XAU/USD chart

Trade idea:

SELL at 1219.75; TP1 1217.15; TP2 1213.40; SL1223.

Gold formed a candlestick with a longer upper shadow on D1. Daily Stochastic and MACD are going down. These are minor bearish signs that may lead to a short-term decline. The precious metal can return to the support of the daily moving averages in the 1215 area.


On H4, XAU/USD is probing down support of the MAs. If this support breaks, the targets will switch to 38.2% and 50% Fibo retracement levels of the Nov. 13-21 advance.



XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

Latest news

The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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