EUR/JPY: on the way up
EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
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.
Elizabeth Belugina
Similar
Will GBP/CHF use its chance?
GBP/CHF formed a "bullish engulfing" candlestick on the W1. On smaller timeframes, we see a higher low that makes the price action resemble an “Inverse Head and Shoulders” pattern.
How to trade XAU/USD?
It’s simply the question of time before gold price gets to the higher levels…
Popular
USD/CAD: Canadian positive data vs US negative data
The Canadian employment change has been published together with the US PPI. Don't miss the best chance of this week!
Gold surpassed $1 800. Will it set new record?
Yellow metal has become the best performing asset during the coronavirus. Some analysts foresee it will reach $2 000.
EUR/JPY: on the way up
EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
Choose your payment system
