Here is what to expect on Gold XAU/USD
According to our previous analysis we expected Gold to rise all the way to the resistance at $1830 then fall back to $1800.
Gold did exactly this yesterday but managed to break the resistance at 1830 triggering our buy stop at $1835.
We currently in a buy.
We expect Gold to continue long with the next resistance at $1875 since previous resistance at $1830 has turned support.
Buy Stop @: $1835
Buy Stop TP: $1860
On the other hand if Gold manages to break below $1830 we would expect a downward continuation to $1800
Sell Stop adjusted to: $1810
Sell Stop TP @: $1785
According to our previous analysis we expected Gold to rise all the way to the resistance at $1830 then fall back to $1800.
Gold did exactly this yesterday but managed to break the resistance at 1830 triggering our buy stop at $1835.
We currently in a buy.
We expect Gold to continue long with the next resistance at $1875 since previous resistance at $1830 has turned support.
Buy Stop @: $1835
Buy Stop TP: $1860
On the other hand if Gold manages to break below $1830 we would expect a downward continuation to $1800
Sell Stop adjusted to: $1810
Sell Stop TP @: $1785
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.