#Gold, 1Hr chart gave a bullish flag breakout at 1342 level with a new support formed at 1335, upside as per the calculation we can see 1360 in coming sessions. One can initiate a buys and can hold for the said targets.
Hi all, Gold is making of c wave structure look for breakout to the upside.
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Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1279.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support....
At the value low, found the tail where price moving toward the control price.
Trader always tries to short at control price but not aggressive.
Short selling aggressively good at the excess, therefore at value high I have mentioned the short point.
Short Sellers have two points to short, control price at 1293.5 and 1297 nearby.
Exit at comfortable...!
Market has conviction that Federal Reserve will cut down interest rates during their 18th June meeting, to hinder the slowdown in global growth, which has been saddled with protracted trade tensions between America and China. Perhaps, there is no likely imminent resolve between these two economies even during G20 summit in Osaka, Japan. Therefore, all the above...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1310.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support....
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1310.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support....
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