Trading signals

XAU/USD

XAUUSD

Gold erased another portion of its losses after hawkish rate cut from the Fed. All eyes on NFP release now.

 

The main scenario is a strengthening towards the 1505 region. 

An alternative scenario is an easing to the handle of 1490.

 

Trading recommendations

 

A sharp breakout above 1500 could spark a further recovery towards 1505.

Sell the gold towards 1490 when you see the yellow metal bounces off 1500.