XAU/USD awaits trade info

XAU/USD awaits trade info

Information is not investment advice

Market dynamics on Friday will be defined by the risk sentiment and that, in turn, depends on the outcome of the US-China trade talks. While a broad agreement seems unlikely, the market looks ready to cheer even on the minor improvements and reassurances. 

There are many ways to trade risk sentiment these days. One of the most attractive bets on the positive outcome of the negotiation is selling XAU/USD. Gold has made two unsuccessful attempts to get above 1,515 in October after forming a lower high in September that still looks quite disturbing for buyers. The decline below 1,490 will open the way down to 1,481 and then potentially to 1,470. Only the advance above 1,515 will bring the level of 1,535 to the table. 

xauusd.png

Similar

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Popular

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Choose your payment system