XAU/USD tests upper boundary of senior channel
During the last trading session the exchange rate expectedly tried to break through the upper boundary of a senior descending channel. In the middle of the day it even managed to reach the alleged resistance zone near 1,259.00 but then was forced to retreat. Today these attempts are expected to resume due to...
XAU/USD soars to 1,259.00
After forming an inverse head and shoulders pattern and bouncing off from the weekly S2 at 1,235.93 the yellow metal managed to advance by 1.23% against the buck. In daily perspective the surge the is expected to last until the rate makes a new rebound either from the 1,263.63 resistance level or from a combination of the 200-day SMA...
XAU/USD tries to break below monthly S2
Previous trading session the exchange rate mostly spent in a horizontal movement between the monthly S2 from the bottom and the upper boundary of a medium-term descending channel from the top. As on daily chart the pair continues to fluctuate in a junior channel down, a little recovery of the yellow metal is expected to...
XAU/USD ready to test strength of dominant pattern
In essence, the buck is actively appreciating against the gold the third day in a row. A short-term bullish movement towards the 38.2% Fibonacci retracement level at 1,268.00 was the only exception and was attributed to beginning of drills on the Korean peninsula. But, in general, the pair is driven by optimism...
XAU/USD trades below moving averages
Using support provided by the 55-, 100- and 200-hour SMAs together with the monthly PP, the exchange rate managed to climb to the weekly R1 located at 1,287.92. In other words the pair has practically managed to form the third reaction high of a four-week long ascending channel. However, a release of widely expected American...
Morning outlook - XAU/USD moves along 100-hour SMA
Instead of trying to reach the monthly R1 at 1,348.36, using the 55-hour SMA as a springboard, the exchange rate stuck at the weekly R1 at 1,339.42 and stayed there until a release of data on the US ISM Non-Manufacturing PMI. The American figures appeared to be positive and dragged the pair down by 0.5%.
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Here we have the last chance to go long on this pair before it blows up again!
USD is weak and that won't change for the moment. USDJPY is dropping like a rock.
For more info, check out the chart and analysis above!
Trade safe!
Two potential Short Entry. It depends on PA at key level.
My favourite always in the top sell zone.
If this pair unable to breakout the top zone, it will be good bearish move.
Cut your open position if price re-act against this setup. But I believe this setup normally 80% success rate. We will see..
T.A.Y.O.R
@scandicfx
ON THE DAILY CHART PRICE IS MAKING ITS FINAL PUSH BEFORE A BREAKOUT FROM THE BEAR FLAG PATTERN.
PRICE WILL MAKE ONE MORE FINAL DESCENT TO THE MAJOR SUPPORT TREND LINE.
WAIT FOR THE BREAKOUT OF THE FIB AT THE 1355.02 LEVEL.
STOP LOSS IS 1338 LEVEL.
THERE IS NOT PROFIT TARGET ON THIS ONE. JUST FOLLOW THE TREND.
ON THE CHART PRICE RETESTS THE 1308 ((0.618) Fib level.
PUT A BUY STOP AT THE 1310 LEVEL AS SOON AS PRICE IS READY TO 'TAKE OFF''.
STOP LOSS JUST BELOW THE MAJOR RESISTANCE TREND LINE.
LIMIT SHOULD BE THE 1348 LEVEL.
STOCHASTIC/RSI IS GOING BELOW THE 20 LEVEL.
