XAU/USD: bears want more

XAU/USD: bears want more

2019-11-11 • Updated

Recommendation:

SELL $1302

SL $1317

TP1 $1379 TP2 $1268

On the daily chart, bears managed to pull the pair below $1320.4-1321.6 an ounce. A break of the lower border of the uptrend channel will strengthen the risks of a pullback towards $1279 and $1268. On the other hand, recoil from support at $1302 will create grounds for consolidation in the $1300-1350 area.

XAU1.png 

On H1, XAU/USD has reached the targets of “Spike and reversal with acceleration”. Correction towards targets at 88.6% and 113% of the Shark pattern continues.

XAU2.png

Similar

How Will CPI Change the Market?
How Will CPI Change the Market?

On Wednesday, the US dollar weakened in anticipation of the US CPI data, which could influence market exposure. A Bloomberg survey predicts a year-on-year read of 5.0% to the end of April. Market sentiment is affected by the US debt ceiling and issues with regional banks. While the major APAC equity indices are...

Crucial Days for Gold
Crucial Days for Gold

Gold prices have stabilized at around $2,020 ahead of Tuesday's trading session, following last Friday's dip. Recent fluctuations in risk sentiment have been the driving force behind the pricing of the precious metal. How does this look on the charts? Let’s find out.

How will FOMC meeting affect the Markets?
How will FOMC meeting affect the Markets?

It's been an exciting start to the week, and month, for the US Dollar, as it gained some bullish momentum on Monday thanks to a 0.5% rise in the US Dollar Index (DXY), propelled by a whopping 4% increase in the benchmark 10-year US Treasury bond yield. This surge saw the DXY reach a new high not seen since April 11, hitting 102.40. However, this didn't last long, as the DXY dropped to 102.00 after the bond yield fell sharply in the wake of the latest US data.All eyes are now on the upcoming Federal Reserve (Fed) two-day...

Latest news

Gold’s Next Move Could Be Huge!
Gold’s Next Move Could Be Huge!

Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.

What to Trade in June
What to Trade in June

Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!

Will GBP Recover Now?
Will GBP Recover Now?

The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

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