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How to trade gold?

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.

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EUR/USD: a temporary bottom

On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).

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EUR/USD: a temporary bottom

On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).

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