Don’t waste your time – keep track of how NFP affects the US dollar!
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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. In this article, however, we’ll look at the technical side of things to see what opportunities lie there.
First, the uptrend since the end of March is still in place. On the weekly chart, there’s a 50-week MA just below $1855 – this level is supporting the price.
Second, on the D1 an Inside bar formed yesterday: it’s a sign that the price is consolidating ahead of the major breakout. The decline below $1855 will open the way down to $1845/$1840 (200-day MA). If XAU/USD stays above $1855, it will rise to $1867. A further breakout will bring the price shoot up to $1874 and $1880.
A more detailed picture of all the levels is offered by the H4 timeframe:
BUY 1862; TP 1867; SL 1860
BUY 1869; TP 1880; SL 1865
SELL 1854; TP 1845; 1857
When Twitter Inc. and Snap Inc. posted quarterly revenue that blew past analysts’ expectations, the results bumped up the shares of the two of their larger rivals: Facebook Inc. and Alphabet Inc.
EUR/USD managed to rise for a very short period of time right after the ECB decision to as high as 1.1798 before declining and giving away its entire gains.
US Equities bounced back again in the past two days, while the S&P500 recovered all of its declines after holding well above its 50-day MA for the fifth time this year.
What happened? Brent returned to the rising channel on Wednesday by gaining 4% during the trading session…
When Twitter Inc. and Snap Inc. posted quarterly revenue that blew past analysts’ expectations, the results bumped up the shares of the two of their larger rivals: Facebook Inc. and Alphabet Inc.
EUR/USD managed to rise for a very short period of time right after the ECB decision to as high as 1.1798 before declining and giving away its entire gains.
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