FxWirePro
Long

Gold: Intraday Trade idea

FX:XAUUSD   Gold/U.S. Dollar
451 0 10
Major intraday resistance -$1337 (90 H EMA)

The yellow metal has made a high of $1338 and declined from that level. It is currently trading around $1329.

Gold             has made a low of $1323.68 yesterday and slightly recovered from that level.

The intraday bias is neutral and is trading near to Tenkan-Sen ($1331) and Kijun-Sen ($1330.44).


On the higher side, any violation above $1337 takes the yellow metal till $1353 (200 HMA)/$1357.

Indicators (hour chart)

CCI (50) – Sell

ADX (14) - neutral

It is good to buy on dips around $1328-30 with SL around $1320 for the TP of $1340/$1349
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