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!
XAU/USD awaits trade info
2019-11-11 • Updated
SELL 1,489; TP1 1,481; TP2 1,470; SL 1,493
Market dynamics on Friday will be defined by the risk sentiment and that, in turn, depends on the outcome of the US-China trade talks. While a broad agreement seems unlikely, the market looks ready to cheer even on the minor improvements and reassurances.
There are many ways to trade risk sentiment these days. One of the most attractive bets on the positive outcome of the negotiation is selling XAU/USD. Gold has made two unsuccessful attempts to get above 1,515 in October after forming a lower high in September that still looks quite disturbing for buyers. The decline below 1,490 will open the way down to 1,481 and then potentially to 1,470. Only the advance above 1,515 will bring the level of 1,535 to the table.
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!
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
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