plus some others major pairs.
We had some serious downtrend move since risk and fear were reduced as trade war between USA and China seemd to calming down and N.Korea nuclear tests stopped but now we are in a serious .
That's why we had a good reaction plus trade war seems to have some more fuel in it's tunk.
But let's see what it's in store as far as fundamentals.
1.We can see the channel that the price of Gold consolidates for some time now between 1.300 and previous highs 1.365.
2.We have a that already unfolds.
3. is in oversold area.
4.We can see a perfect bounce from 200EMA which is signalling that we are still on mode and we must looking for longs as we have the best risk/reward ratio from these levels.
5.At 4h chart we have a with on .
6.We can watch about shorts after 1.300 level breaks and re-tested by price action or when the black ascending trendline on the chart.
ENTRY AT 1.305-1.310 LEVEL
STOP LOSS AT 1.295
FIRST TARGET AT 1.330
SECOND TARGET AT 1.342
ENTRY AT 1.305-1.310
STOP LOSS AT 1.280
TARGET AT PREVIOUS HIGHS 1.365
THANK YOU FOR SUPPORT!KEEP FOLLOWING FOR MORE PROFITS!
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