XAU/USD provides trade opportunities

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

XAUUSDH4.png

TRADE NOW

Similar

US Dollar Outlook Ahead of March NFP
US Dollar Outlook Ahead of March NFP

As we await the publication of the Nonfarm payrolls on the 3rd of March, the technical side of things does not seem to favor the US Dollar. Let's see how the Dollar looks up from the technical side of things.

What lies ahead for gold?
What lies ahead for gold?

As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.

Trade Idea: XAUUSD (Gold) Breakdown - 15-12-22
Trade Idea: XAUUSD (Gold) Breakdown - 15-12-22

A comparative examination of the strength of the US-Dollar often gives tangible insight into the direction of Gold (XAUUSD). The chart above indicates the expectation of a bullish price reaction from the demand zone.

Latest news

CAD Might Weaken As Oil Market Plunges
CAD Might Weaken As Oil Market Plunges

Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...

Bitcoin & Gold - Safe Haven Amid Bank Crisis
Bitcoin & Gold - Safe Haven Amid Bank Crisis

Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...

How Will FOMC Meeting Affect the Markets
How Will FOMC Meeting Affect the Markets

As expected, the Federal Reserve hiked the key US interest rate by 25 basis points for the second straight time during its two-day meeting ending March 22. The unanimous decision of the FOMC came amid major central banks' commitment to fighting inflation while maintaining economic...

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera