XAU/USD: a short-term trade
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
Stock market: short-term trades for Facebook
SELL 164.80; TP1 163.40; TP2 160.00; SL 165.00
BUY 167.10; TP1 169.30; TP2 171.00; SL 166.80
Despite various problems that hit the company in March, Facebook stock is doing rather well. Bears won’t be able to pull for a big decline as long as the price is above 159.80, the area which acted as support in February and March. Daily MAs are in the positive setup. At the same, there’s strong resistance around 165.95 and 167.90 (weekly MAs). As long as it holds, bull won’t be able to make a big leap up.
In the upcoming sessions, the stock may try to violate the short-term support line at 164.85. If it falls below this level, the target will be at 163.40 and probably even 160.00. An advance above 167.10 will open the way to 169.30 and 171.25.
Elizabeth Belugina
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Latest news
XAU/USD: a short-term trade
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD: levels to trade
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
AUD/JPY needs to decide
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
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