XAUUSD - Weekly Outlook
Selling rallies in front of 2009 (stop at 2025)
Price action is stalling close to the October swing high(2009). Momentum has been strong over the last 2 weeks, however, the dollar sell-off has stalled and prices are reacting higher which could have a negative impact on XAUUSD.
The 78.6% Fibonacci retracement at 2012 as well as the psychological strength of the 2000 resistance could repel the rally.
A break of 2009 could well lead to a further and rapid rise in prices with stops sitting just above here, However, after such a relatively rapid rise in price, this does offer a good risk/reward opportunity to fade into the rally and look for a re-test of interim support around 1970 in front of major support at 1935.
Our profit target is 1970 & 1935
Resistance: 2009 / 2012 / 2050
Support: 1970 / 1935 / 1905
Selling rallies in front of 2009 (stop at 2025)
Price action is stalling close to the October swing high(2009). Momentum has been strong over the last 2 weeks, however, the dollar sell-off has stalled and prices are reacting higher which could have a negative impact on XAUUSD.
The 78.6% Fibonacci retracement at 2012 as well as the psychological strength of the 2000 resistance could repel the rally.
A break of 2009 could well lead to a further and rapid rise in prices with stops sitting just above here, However, after such a relatively rapid rise in price, this does offer a good risk/reward opportunity to fade into the rally and look for a re-test of interim support around 1970 in front of major support at 1935.
Our profit target is 1970 & 1935
Resistance: 2009 / 2012 / 2050
Support: 1970 / 1935 / 1905
İşlem kapandı: durdurma seviyesi
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.