Now that XAUUSD has cleared the 2017 High. What's next?
XAUUSD has finally made a new high in 2017 on 29 August 2017. This pair made a recent high of 1300 on 18 August 2018 and retraced to 1274 on 25 August 2017.
Investors like you may be wondering after making a new high in 2017, what's next for this pair? From a technical outlook, it has an upward bias in the near-term. Based on our forecast, if the bullish momentum continues, we could potentially see this pair reach 1337 as our first target, followed by 1354 as our second target. On the other hand, if there is a sudden change of the directional bias on this pair, we could potentially see this pair retrace to 1292 as our first target level, and if this level cannot provide the necessary support, XAUUSD could potentially be retraced to 1284.
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.
#XUAUSD #FORECAST
Investors like you may be wondering after making a new high in 2017, what's next for this pair? From a technical outlook, it has an upward bias in the near-term. Based on our forecast, if the bullish momentum continues, we could potentially see this pair reach 1337 as our first target, followed by 1354 as our second target. On the other hand, if there is a sudden change of the directional bias on this pair, we could potentially see this pair retrace to 1292 as our first target level, and if this level cannot provide the necessary support, XAUUSD could potentially be retraced to 1284.
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.
#XUAUSD #FORECAST