USD/CAD dropped to key support
The US dollar waned on hopes for the fiscal stimulus, allowing riskier currencies to move higher, and the Canadian dollar as well.
XAU/USD: how about a buy trade?
Information is not investment advice
XAU/USD formed a “hammer” candlestick on the D1 ahead of the 100-day MA. The price made a higher low on the H4 and now only the resistance at $1 877 separates the precious metal from further gains. The target for buying will be at $1 890 (100-hour MA and 38.2% Fibonacci retracement of the latest decline). Support lies at $1 866, $1 860, and $1 850.
Trade idea for XAU/USD
BUY $1 878; TP $1 890; SL $1 875
Elizabeth Belugina
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