Trading signals

XAU/USD

XAUUSD

The gold broke out of consolidation zone when the dollar started to lose value. Still, the dollar is too strong and is likely to return in the game in the coming sessions.

 

The main scenario is a growth to 1880-1885.

An alternative scenario is a decline to 1850.

 

Trading recommendations

 

A clear break above 1870 would indicate that the bullish phase has resumed. The next bulls’ target lies at 1880-1885.

Gold needs to regain the 1860 zone to be able to reach 1850.

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