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 wants more but...
Recommendation:
SELL 1315 SL 1330 TP 1285 TP2 1272 TP3 1244
SELL 1325 SL 1340 TP 1295 TP2 1285 TP3 1272
On the daily chart, XAU/USD keeps forming a “Broadening wedge”. The pair’s correcting to 23.6%, 38.2% and 50% of the wave 4-5. It’s usually used for forming short positions. The inability of bulls to lead the pair outside of the downtrend channel points at their weakness.
On H1, a “Shark” is transforming into 5-0. At the same time, the pair is forming a “Broadening wedge”. Pullbacks to 23.6%, 38.2% and 50% of the wave 4-5 should be used for selling.
Ivan Karamazov
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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!
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