Gold: short-term trade ideas
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.
USD/CAD is facing resistance
Information is not investment advice
USD/CAD spiked towards the resistance in the 1.3350 area (the 61.8% Fibo retracement of the May-July advance) but failed to close above the 100-day MA at 1.3305. The pair’s at the upper border of the uptrend channel and can experience some correction. There’s a “Head and Shoulders pattern on H1 that confirms such a scenario. The initial target will be at 1.3247 (100-hour MA, 50-week MA). Given the fact that the price is still in an uptrend from the end of July, it will be necessary to look for buy opportunities in the 1.3225/1.32 area.
Elizabeth Belugina
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AUD/USD is looking badly
AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.
Is gold ready to shoot up?
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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Gold: short-term trade ideas
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.
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