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: gold retreats, but doesn’t give up
2019-11-11 • Updated
BUY $1320 SL $1305 TP1 $1350 TP2 $1365 TP3 $1400
BUY $1300 SL $1285 TP1 $1330 TP2 $1350 TP3 $1365
On the daily chart, XAU/USD bulls didn’t manage to overcome significant resistance at $1360-1365 an ounce. As a result, the risks of correction and triggering of the “Bat” pattern increased. At the same time, the trend remains bullish, so pullbacks from diagonal support may be used for buying.
On H1 of XAU/USD, the “Shark” pattern is being triggered. Its 88.6% corresponds to the level of $1,323 an ounce. It is in the $1320-1323 convergence area.
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!
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