GOLD retraced back to the trendline (lows 1180 and 1194) and has performed a four days run to the upside. The price isn’t so convincing because the daily candles have very small range. However XAUUSD is facing an important horizontal resistance which we may call it “make or break”. If price breaks out, then the next resistances are 1248 and 1262. There are good probabilities for sell opportunities if price manages to climb to these areas. On the other hand, if price breaks out the rising channel to the downside, then GOLD may see the lower trendline again.
Drone attacks reported on two oil-processing facilities in Saudi Arabia, on Saturday. US secretary of state, Mike Pompeo, blamed Iran, but later, in a televised statement, Yemen Houthi rebels took the responsibility of the attacks. No casualties reported and the fires were under control later on Saturday. It remains to be seen, how far the […]
This analysis may give two potential trading setups by providing entries as well as exits. We keep it really simple and straightforward. Always review your own analysis, if there is confluence between this and your own strategy, then you may have even better trading setups. On the chart, two levels indicate the BUY (green) and […]
Good Morning, – EUR and GBP trade higher, as market may starts looking to hit the stop-loss orders…the US dollar under pressure again. – China’s January-February economic data released today disappointed to the downside, sending stocks lower. – ECB’s Coeure: ECB is ready to act if inflation scenario doesn’t materialize – Mario […]
