Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
Trade ideas for gold
2019-11-11 • Updated
SELL 1280; TP1 1276; TP2 1270; SL 1282
BUY 1300; TP 1308; SL 1298
The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50. A fix below 100-period MA on H4 will be significant as the price was last seen there only in November. The break of the pennant to the downside will pull it down to 1276 an 1270 (100-week MA). The alternative is a break above 1300: it will allow the uptrend to continue towards 1308.
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!
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Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail!
Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3).