XAU/USD: an attempt to recover
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
XAU/USD: gold is making a wedge
Recommendation:
SELL 1282
SL 1297
TP1 1252 TP2 1244 TP3 1215
On the daily chart, XAU/USD keeps forming a “Broadening wedge”. The inability of bulls to overcome resistance at 23.6% of the wave 4-5 and lead the pair out of the descending trade channel points at their weakness. If gold renews May low, it will continue moving down to 88.6% target of the “Double top”.
On H1 of XAU/USD, a break of support at 1282 will trigger AB=CD pattern and increase the risks of a decline to its 200% target.
Ivan Karamazov
Similar
AUD/USD is looking down
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
EUR/CHF looks ill
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
Latest news
XAU/USD: an attempt to recover
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD is looking down
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
Stock market: the earnings of Cisco, Nvidia, and Walmart
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.
Deposit with your local payment systems
