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XAU/USD: Trading Scenarios

By Yuri PapshevForexJul 07, 2021 06:36AM ET
www.investing.com/analysis/xauusd-trading-scenarios-200590180
XAU/USD: Trading Scenarios
By Yuri Papshev   |  Jul 07, 2021 06:36AM ET
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Today XAU/USD is close to the long-term key support/resistance level 1808.00. Slightly higher, at around 1815.00, there is an important resistance level. Its breakdown will become a confirming signal for the resumption of long positions in XAU/USD, which has the potential for further growth.

In the alternative scenario, XAU/USD will strengthen the downward dynamics, and the downward correction may continue inside the downward channel on the weekly chart, the lower border of which passes through the support level of 1645.00.

A signal for the development of a scenario for the XAU/USD decline will be a breakdown of an important short-term support level 1789.00.

Trading recommendations

Sell ​​Stop 1792.00. Stop-Loss 1810.00. Take-Profit 1789.00, 1761.00, 1685.00, 1645.00, 1580.00, 1560.00
Buy Stop 1810.00. Stop-Loss 1792.00. Take-Profit 1815.00, 1900.00, 1916.00, 1963.00, 1976.00, 2000.00, 2010.00

XU-Daily
XU-Daily

XAU/USD: Trading Scenarios
 

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XAU/USD: Trading Scenarios

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Mpunya Sendok
Mpunya Sendok Jul 07, 2021 1:32PM ET
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