Everyone is interested in trading gold (XAU/USD). The meeting of the Federal Reserve at 21:00 MT time (GMT+3) will certainly drive the price.
EUR/GBP: bullish targets
Information is not investment advice
EUR/GBP continues trading within an uptrend. The pair has managed to break above 0.9000 (38.2% Fibonacci retracement of the March-April decline) which now acts as support. The recent high is not confirmed by the Awesome Oscillator on the D1, so the pair may retrace to the 0.9030/00 area. Never the less, the uptrend will look intact as long as the pair’s staying within an uptrend. An advance above 0.9070 will bring it to 0.9100 (50% Fibo) and the next important level will be at 0.9175.
Trade ideas for EUR/GBP
BUY 0.9075; TP1 0.9100; TP2 0.9070; SL 0.9060
BUY 0.9000; TP 0.9100; SL 0.8980
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
Gold price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.
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