The rally of the US dollar has stopped for a while. That allowed risk-on assets (GBP, NZS, AUD, stocks) and also gold to recover some losses.
Is gold ready to shoot up?
2021-04-16 • Updated
Gold (XAU/USD) may have formed a double bottom: the price rebounded right from $1680 for two times and then made a big leap up on the daily timeframe: yesterday’s candlestick closed above the 50-day MA at $1752.
Let’s have a closer look at the short-term uptrend. There’s still space until the resistance line is hit. The price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.
Trade idea for XAU/USD
BUY 1771; TP 1780; SL 1765
Daily Chart 4H Chart Gold managed to post further gains at the end of last week's trading amid fears of Covid19-Delta variant, in addition to the Federal Reserve's remarks about QE tapering…
4H Chart Daily Chart We sent out a signal yesterday to long EUR/USD between 1…
USD/TRY belongs to the exotic group of Forex currency pairs, that’s why traders don’t trade it regularly. However, these days this pair is in the focus of all the trading community!
Some cryptocurrencies, like Bitcoin or Ethereum, are useful and bring real value to the world.
Latest news On September 29, Virgin Galactic announced that the Federal Aviation Administration has approved launches resume after an investigation about why its spaceship veered off course while descending during a July flight with founder Richard…