XAU/USD: a slight recovery

XAU/USD: a slight recovery

Trade idea

BUY TP1 1233.60; TP2 1238.40; SL 1226.

The market risk sentiment improved after the G20 meeting. While risk-sensitive currencies like AUD and NZD try to figure out whether to close gaps or not, the USD is strengthening versus gold.

Technical indicators on W1 are bullish. A candlestick with a long lower wick formed last week means that XAU/USD enjoyed buying interest.  

XAUUSDWeekly.png

On D1, 50-day MA went above the 100-day one. The pair’s actively testing the resistance line. Targets lie at 1233.68 (200-week MA) and 1238.44 (38.2% Fibo).

XAUUSDDaily.png

Similar

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.

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.

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