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How to trade gold?
Information is not investment advice
XAU/USD has paused its advance in February and since then has been trading in a triangle-like fashion. It looks like the precious metal is not ready to continue the big uptrend, at least for now.
The price turned up from support around 1,286 on Friday but failed to get above 1,300. As long as it stays above 1,286, it will retain a chance to get to 1,300 and 1,308 (50-day MA), where it will find a significant resistance.
A break below 1,286 will make the gold price test the 100-day MA at 1,279. If that level is breached, a bigger decline to 1,250 and lower may follow.
4H Chart Daily Chart We sent out a signal yesterday to long EUR/USD between 1…
4H Chart Daily Chart EURUSD declined back yesterday after trying to test its 1…
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus