What are the scenarios for gold?

What are the scenarios for gold?


BUY 1209 SL 1194 TP1 1239 TP2 1263 TP3 1285

SELL 1188 SL 1203 TP1 1160 TP2 1151 TP3 1125

On the daily chart, XAU/USD is consolidating in the 1185-1210 range. A break of its upper border will trigger a “Crab” with a 161.8% target. On the other hand, a successful test of support at 1185 will open the way down to 161.8% target of AB=CD.

Gold daily.png 

On H1, XAU/USD keeps forming a “Broadening wedge”. To trigger it, gold should decline below support at 1188. On the other hand, a break of resistance at 1208.5 will increase the odds of the rally’s continuation.

gold h1.png


How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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