Gold: catching buy trades

Gold: catching buy trades

2020-11-20 • Updated

On Thursday, XAU/USD tested levels below $1 860, but then managed to close near the day’s high. The support in the $1 860/50 has been limiting the downside since the end of the summer. Given the fact that the situation with the pandemic remains uncertain, it’s logical to expect the precious metal to remain in demand. In the short term, this means that the advance above $1 870 will open the way up to $1 877. The next level to watch on the upside is at $1 890. Notice that to enter a trade, we need to wait for the breakout of the short-term resistance line.

Trade idea for XAU/USD  

BUY 1 871; TP 1 877; SL 1 868

XAUUSDH1.png

LOG IN

Similar

XAU/USD: how about a buy trade?

XAU/USD formed a “hammer” candlestick on the D1 ahead of the 100-day MA. The price made a higher low on the H4 and now only the resistance at $1 877 separates the precious metal from further gains.

Latest news

Deposit with your local payment systems

Learn more

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 00:30:00

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