XAUUSD Wait for OANDA:XAUUSD by aiza_belle

trendanalysis chartpattern beyondta xauusd xau usd gold neutral wait waiting waitingforconfirm

Despite the current strong bullish sentiment on gold reflecting a cautionary stand about North Korea and other geo-political risks involving the dollar, there's still possiblity that this pair might consolidate in the near future especially if Trump finally pushes through with US tax reforms and the Fed with another rate hike by the end of the year, not to mention there's also bitcoin which is a relatively new competition in the market and outshining gold recently, and most investors going risk on the equity markets instead. This pair can go either way, so setting up a buy stop order between R1-R2 pivot lines (hourly) with TP near the 1400 weekly resistance, and sell stop order between S2-S3 pivot lines (hourly) with TP at the base pivot line on the weekly chart, both setups with tight SLs.

Weekly:

Daily:

Confidence: A

Comment:

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