Gold approached a milestone

Gold approached a milestone

2019-11-11 • Updated

Recommendation:

BUY 1295.50

SL 1285

TP2 1325 TP2 1380

On the daily chart, XAU/USD reached 78.6% target of the inverted Gartley pattern and 78.6% of the last long-term descending wave. As a result, the risks of a pullback have increased. On the other hand, if the bulls manage to overcome the resistance at $1321-1325 an ounce, increase towards the target at 200% of the AB=CD pattern will likely continue.

XAU1.png  

On H1, there’s a “Spike and reversal with acceleration” pattern. XAU/USD is now at the spike stage. To change the trend, bears need to move the prices below $1285.

XAU2.png

Similar

Jackson Hole has Serious Consequences
Jackson Hole has Serious Consequences

Fed Chair Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in the US500 index since June. Most risky assets experienced severe drawdowns, and EURUSD returned to the above-parity area. We explain everything you need to know about the Symposium in this article.

The US Dollar is Still the King, But!
The US Dollar is Still the King, But!

Despite a slight decline from its highest levels since 2002, around 109 range, it is just a correction, and the green king, the US dollar, will resume its rally…

China-Taiwan Conflict to Destroy the Markets
China-Taiwan Conflict to Destroy the Markets

China may respond to US House Speaker Nancy Pelosi's visit to Taiwan with military provocations, including firing missiles near Taiwan or large-scale air or naval activities…

Latest news

It’s Time to Look at New Zealand
It’s Time to Look at New Zealand

Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera