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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. 



XAU/USD: where to next?

XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.


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