XAU/USD: Indians will show way for gold

XAU/USD: Indians will show way for gold

Recommendation: SELL $1280 SL $1296 TP $1264 TP2 $1250

On the daily chart, XAU/USD managed to return inside the bullish medium-term uptrend channel. Successful test of resistance at $1297 will trigger AB=CD pattern. Its 200% is near $1385. On the other hand, failure will allow bears to seize the initiative.


On H1, XAU/USD formed a reversal pattern: a combination of “Three Indians” and 1-2-3. A break below correction low at the point 2 will signal the start of corrective move. There’s also diagonal resistance at 23.6% of the last bullish wave.  



Trading GBP/JPY on the news

Britain will release some economic data today. The forecast is positive. It’s possible to try to exploit this idea trading GBP/JPY.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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