The rally of the US dollar has stopped for a while. That allowed risk-on assets (GBP, NZS, AUD, stocks) and also gold to recover some losses.
XAU/USD provides trade opportunities
2020-11-05 • Updated
After a wide consolidation during the US vote count, XAU/USD has managed to close above $1 915 on the H4 (50-day MA). The short-term momentum, is bullish. The line connecting October highs around $1 928 is a good target. The decline below $1 910 will open the way down to $1 900.
Trade ideas for XAU/USD
BUY 1 919; TP 1 928; SL 1.914
SELL 1 908: TP 1 900; SL 1 911
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