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.
How to trade WTI oil
Information is not investment advice
WTI oil has reached our previous targets. On the W1, a big bullish candlestick engulfed the previous bearish one. If the price rises above 52.35, it will likely push up to 53.00 (23.6% Fibonacci retracement of the 2020 decline). The Awesome Oscillator on the D1 is bullish. On the H4, the price has managed to overcome the 100-period MA. As long as it’s trading above this line in the 51.80 area, the short-term uptrend will remain in place. Below 51.70, the price will be vulnerable for a correction to the 50.90 area.
Trade ideas for WTI oil
BUY 52.00; TP 53.00; SL 51.75
SELL 51.70; TP 50.95; SL 51.85
To trade WTI with FBS you need to choose WTI-20H in MT4.
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
Gold price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.
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