Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
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
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
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Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail!
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