Wait for breakout 1,284 then long
Alternatively, should a breakdown occur below 1,260 short
Due to uncertainty in the Middle East, probability of XAUUSD going up is likely.
Extracted from Investing.com
Gold prices made a strong start to the week as investors piled into the precious metal amid growing political uncertainty in the Middle East after Saudi...
This announcement takes precedence over other forms of technical analysis: candlestick patterns, pivot points, etc.
Instead, time leading up to the announcement (minutes before) & the larger trend becomes critical.
During this period, other forms of technical analysis (Pivot Points & Elliott Waves) take a backseat.
EUR/USD was not trending last week. So, it's probably in a sideways correction this week.
Anticipating a double A-B-C correction to 1.11 levels.
Entry 1.1261 | Stop 1.1319 | Exit 1.1126
Risk/Reward of 2.33