Technical outlook and ideas for Forex pairs
We have outlooked several promising Forex pairs and the result can surprise you!
Gold: short-term trade ideas
Information is not investment advice
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:
Trade ideas for gold
BUY 1862; TP 1867; SL 1860
BUY 1869; TP 1880; SL 1865
SELL 1854; TP 1845; 1857
Similar
Another EUR/USD Trade!
4H Chart Daily Chart We sent out a signal yesterday to long EUR/USD between 1…
New EUR/USD Trade
4H Chart Daily Chart EURUSD declined back yesterday after trying to test its 1…
Popular
EUR/USD climbed towards 1.07
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now trading within the Kumo…
How Will Amazon Price React To The Split?
What will happen? Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3)…
Can a recession be avoided?
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
Choose your payment system
