Trading signals

XAU/USD

XAUUSD

Risk on mode kicked the gold downwards. The precious metal may strat a recovery phase today.

 

The main scenario is a recovery action towards 1477. 

An alternative scenario is bearish resumption and a decline to the level of 1460.

 

Trading recommendations

 

If bulls keep the momentum they could break above 1468 and target at 1477 afterwards.

Sell gold to 1460 if the rate cuts the level 1466.