XAU/USD: the gold is strong

XAU/USD: the gold is strong

2019-11-11 • Updated


BUY 1,251 SL 1,236 TP1 1,271 TP2 1,287 TP3 1,308

On the daily chart of XAU/USD, the rebound from the support at 1,239 helped to open long positions. The gold needs to break the December's maximum to continue rising towards the 161.8% target of the AB=CD pattern. 


On H1, the target of the "Wolfe Waves" pattern was reached. The reversal towards the 23.6% target of the "Shark" pattern's  CD wave as a part of its transformation into the 5-0 pattern gave an opportunity to open long positions. If the December's maximum is retested, the junior AB=CD pattern with the 200% target will be implemented. 



US Dollar: A Dump or a Correction?
US Dollar: A Dump or a Correction?

After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?

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