XAU/USD: strong signals to buy gold

XAU/USD: strong signals to buy gold

Recommendation:

BUY 1237 SL 1222 TP1 1267 TP2 1287 TP3 1308

BUY 1205 SL 1190 TP1 1235 TP2 1245 TP3 1267

On the daily chart of XAU/USD, a retest of the upper boundary of the previous consolidation of 1,185-1,215 supported bulls. To continue the upward movement to the 161.8% target of the “Crab” pattern, the need to break the resistance at 1,245.

xauusd_d.png

On H1, a combination of “Three Indians” and 1-2-3 patterns will increase risks of the fall, if the pair breaks the support at 1,212. However, a pullback won’t be deep. The Wolfe waves” pattern signals that.

xauusd_60.png

Similar

Levels to trade EUR/USD

EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.

USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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