Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
How to trade gold?
Trade ideas
SELL 1,308; TP 1,286; SL 1,312.50
SELL 1,386; TP 1,379; SL 1,388
XAU/USD has paused its advance in February and since then has been trading in a triangle-like fashion. It looks like the precious metal is not ready to continue the big uptrend, at least for now.
The price turned up from support around 1,286 on Friday but failed to get above 1,300. As long as it stays above 1,286, it will retain a chance to get to 1,300 and 1,308 (50-day MA), where it will find a significant resistance.
A break below 1,286 will make the gold price test the 100-day MA at 1,279. If that level is breached, a bigger decline to 1,250 and lower may follow.
Elizabeth Belugina
Similar
How to trade EUR/GBP?
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
NZD/USD: tipping out
The New Zealand dollar seems to be tipping out against the USD. Will that be another full cascade downwards?
Latest news
DAX30: steady for now?
What moves the German index?
USD/CAD surged on failing oil and risk-off sentiment
The Canadian dollar broke out through the 1.40 psychological mark. What’s the reason?
Tips for trading gold
How to trade gold in 2020?
Deposit with your local payment systems
