29, August 2016

XAU/USD (a 4-hour chart)

General overview

During yesterday's trading, gold moved to insignificant correction, the market pulled back to levels of 1325, which could be due to profit-taking and short covering before Friday's session.

Trading recommendations

We expect pullback to procced to 1310-1315 levels where the medium-term demand is located. However, the second half of the day promises to be volatile.