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.
While Europe was preoccupied with the results of its elections, the world was getting insights on what marked the collapse of US-China trade negotiations and was pricing in gloomy scenarios. With the exception of the Chinese stock exchange, all major indexes (SP500, Dow Jones, Nikkei, Dax, FTSE) dropped significantly. In 2018 China produced about 78% […]
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 […]
Yesterday’s headlines had been occupied by the UK. On the one hand there was the Monetary Meeting of the Bank of England (BOE) and on the other hand local elections were carried out in 248 English and 11 Irish councils. The Tories and the Labor party recorded diminishing votes. The Green Party and the Liberal […]
