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.
Gold is about to choose direction
2019-11-11 • Updated
BUY 1213 SL 1198 TP1 1243 TP2 1263 TP3 1285
SELL 1188 SL 1203 TP1 1158 TP2 1143 TP3 1128
On the daily chart, XAU/USD keeps consolidating in the 1188-1213 range. A break of its upper border will increase the odds of advance towards 161.8% target of a “Crab”. On the other hand, a decline below support at 1188 will open the way down to 161.8% target of AB=CD.
On H1, XAU/USD keeps forming a “Spike and ledge” and a “Broadening wedge”. Support at 1188 or resistance at 1213 will help to determine the further direction.
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