Monfex is at your service and today we overview XAU/USD.
What do you expect from Gold?
The classic pattern here. And for now at the 50% Fibonacci. Expect fallin at the 61.8% level and testing of 50% and in this moment it will be the best place to open short position.
- The ~ $1518-1520
- The local ~ $1498-1500
- The ~ $1461-1462
- The local ~ $1479-1480
Supposed Trade Signal by XAU/USD
- Sell near $1479-1480
- Take profit ~ $1435 , $1402
- Stop loss at $1504
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This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.