US markets are closed for Thanksgiving on Thursday, that's why the volatility falls. However, there are still some interesting movements!
XAU/USD: how about a buy trade?
2020-09-25 • Updated
XAU/USD formed a “hammer” candlestick on the D1 ahead of the 100-day MA. The price made a higher low on the H4 and now only the resistance at $1 877 separates the precious metal from further gains. The target for buying will be at $1 890 (100-hour MA and 38.2% Fibonacci retracement of the latest decline). Support lies at $1 866, $1 860, and $1 850.
Trade idea for XAU/USD
BUY $1 878; TP $1 890; SL $1 875
On Thursday, XAU/USD tested levels below $1 860, but then managed to close near the day’s high. The support in the $1 860/50 has been limiting the downside since the end of the summer.
After a wide consolidation during the US vote count, XAU/USD has managed to close above $1 915 on the H4 (50-day MA).
Amazon's stock is calming down. Is it before a bullish storm?
The mix of economic reports from Canada and the USA will have a huge impact on the pair! Get ready with us!
GBP/USD is heading for the fifth week of gains. Will the rally up continue or stop?