XAUUSD consolidated, waiting for a breakout

XAUUSD consolidated, waiting for a breakout


Fundamental Analysis

As Brexit deal failed by the Common house yesterday, PM Johnson is now seeking for an extension, but it seems to be difficult to get an approvement. So for the next week trading sessions, high volatility for Gold is expected for.

Technical Analysis

Currently XAUUSD is consolidated to a very narrowed trading range of just around $ 10.00 USD, so from $1485.15 USD-$1495.xx USD/ounce. Next week, we are expected for a breakout of this above mentioned trading range. Anyway how the market will react to this news when the market is opened again, we have to wait for the price action firstly. Immediately resistance is to see at $ 1528.xx USD/ounce and support we see at the lower level at $1450.xx USD/ounce.

We will monitor further trading conditions during the coming trading sessions by this week.


Trade well!

Tradingscenes team




Thông tin thành viên
Forex, stocks, commodities Trader & Markets Analyst. Makkaba Co., Ltd. ST&C

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