Gold got new strength

Gold got new strength

Information is not investment advice

Trade idea

BUY 1313.60; TP 1322; SL 1310

BUY 1324; TP 1333; SL 1321

The outcome of the Federal Reserve’s meeting was dovish enough to let gold prices soar. XAU/USD closed above March 13 high in the 1311 area. As long as the price stays above this support level, it will be poised to advance to 1322 (61.8% Fibo retracement of the February-March decline). The best opportunity to enter the market will be if XAU/USD revisits lower levels.  

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EUR/CAD is ready for a move

EUR/CAD has formed a couple of higher lows since October. The pair has managed to overcome the 50- and the 100-day MAs at 1.4588 and 1.4640 respectively.

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