How to trade XAU/USD?

How to trade XAU/USD?

2020-07-07 • Updated

It’s simply the question of time before gold price gets to the higher levels. If we look at the price action on the H1, we’ll see several times when the market bought XAU/USD on the dips. That’s why declines to 1 772, 1 769 or 1 760 will inspire buying interest: traders will want to join the market at a lower price. On the upside, the advance above 1 780 will open the way up to 1 785 and 1 790. Currently the price is consolidating between 1 777 and 1 772 and the direction of the breakout will determine the short-term potential.

Trade ideas for XAUUSD

BUY 1 770; TP 1 780; SL 1 768

BUY 1781; TP 1 789; SL 1779

Trade targets for XAU/USD

XAUUSDH1.png

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