XAUUSD | Perspective for the new week | Follow-up details
Despite falling sharply at the beginning of the week and touching its weakest level since mid-February at $1,850, the yellow metal managed to stage a rebound in the second half of the week to close above the new key level identified at $1,880 which shall also be our yardstick going into the new week.
With over 4,000 pips during the course of last week's trading session (see link below for reference purposes); it appears we are at another juncture in the market where another bullish opportunity is lining up for us.
Using the bullish trendline identified on the higher time frame as our guide, it is proper that we look for opportunities above this level going into the new week as a breakdown of this line could negate any bullish bias.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
With over 4,000 pips during the course of last week's trading session (see link below for reference purposes); it appears we are at another juncture in the market where another bullish opportunity is lining up for us.
Using the bullish trendline identified on the higher time frame as our guide, it is proper that we look for opportunities above this level going into the new week as a breakdown of this line could negate any bullish bias.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade smart. Trade consciously
