XAU/USD: gold is catching a bat

XAU/USD: gold is catching a bat


BUY $1305

SL $1290

TP1 $1322 TP2 $1350

On the daily chart, XAU/USD bulls managed to lead the pair out of the upper border of the consolidation range between $1266 and $1288 an ounce. In order to count for the uptrend’s resumption, buyers need a successful test of $1300-1302. 


On H1, the exit out of the 1266-1305 consolidation range will likely lead either to the formation of the “Bat” pattern with a target at 88.6% or the resumption in the medium-term downtrend.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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