XAU/USD: bears prepare a trap

XAU/USD: bears prepare a trap

Recommendation:

SELL $1267

SL $1282

TP1 $1237 TP2 $1212

On the daily chart, XAU/USD is retesting the lower border of the previous consolidation range of $1264-1298 an ounce. To return inside it, bulls need to overcome resistance at $1264-1267. On the other hand, a pullback will create grounds for the current downtrend’s resumption towards 200% target of AB=CD. 

Gold1.png 

On H1, XAU/USD keeps retracing the current downtrend in the direction of convergence area near $1267 an ounce. A pullback will create an opportunity for short positions.

Gold2.png

Similar

GBP/USD: pound’s black days

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines; the market had bounced from the 2Y-highs and going to correction.

gbp

Popular

USD/JPY: bullish "Doji"

We’ve got a pullback from the lower “Window”, so there’s a bullish “Doji”, which has been confirmed .

jpy

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera