WEEKLY ANALYSIS! XAUUSD OUTLOOK
Updated
Good day traders! Wish you all have a pleasant weekend and do enjoy yourself and happy trading!
XAUUSD H4 timeframe, on last Friday, price has strongly rejected the trendline and EMA 55 (as expected) and break above 1765. Coming week, we believe that gold would continue its bullish rally to 1800 (ideally) due to fundamental news and technical analysis.
Therefore, as long as price remain within the trendline (as shown), we will be looking for long opportunity at 1765 and expose to 1800.
Entry Price: 1765
SL: 1750
TP: 1800
XAUUSD H4 timeframe, on last Friday, price has strongly rejected the trendline and EMA 55 (as expected) and break above 1765. Coming week, we believe that gold would continue its bullish rally to 1800 (ideally) due to fundamental news and technical analysis.
Therefore, as long as price remain within the trendline (as shown), we will be looking for long opportunity at 1765 and expose to 1800.
Entry Price: 1765
SL: 1750
TP: 1800
Note
Trade is in profit at the moment! Low risk trader can continue to close the trade and take profit. High risk trader can continue to hold and will look to take profit at 1800Note
Trade idea has hit TP, gold price has moved in the direction as expected. Now, time to sell!
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