Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
Trade idea for XAU/USD
2019-11-11 • Updated
SELL 1,409; TP 1,400; SL 1.411
XAU/USD, also known as spot gold, rose to the 1,440 area - the same zone that stopped its advance last week. On D1, there’s a “shooting star” candlestick that points at the bearish correction. A decline below the 50-period MA at 1,409.50 will open the way down to the key support at 1,400. The return above 1,420 is needed to let the price retest the recent highs.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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