Sabi
Long

XAUUSD Summary & Trade Setup

FX:XAUUSD   Gold Spot / U.S. Dollar
29 0 2
XAUUSD            

The XAUUSD             made quite a rally yesterday during Fed Chair Janet Yellens speech. It now finds itself at trend line resistance and directly on top of both the 50/200MA. It has also just made it back above 1230 which is an extremely critical level. There is still some significant levels still to break on the upside however.

I recommend entering this trade once we break through the bearish trend line . However the NFP release on Friday could cause some volatility for this asset so you can either be careful with your lot size and stop orders or simply wait until after the release before entering into this trade.
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