XAU/USD has managed to rebound in the last hours, but the upside is under treat as long it stays below the $1,900 psychological level. The yellow metal dropped aggressively in yesterday’s session as the USDX has managed to recover.

Gold is trading at the $1,897 level, yesterday’s drop could be only a temporary one if the rate comes back and consolidates above the $1,900.


Gold comes back to challenge the $1,900 and the triangle’s upside line, the downtrend line. Technically, I believe that only a valid breakout above the median line (ml) of the ascending pitchfork could really validate a broader upside movement.

A false breakout with great separation above the near-term resistance levels could attract more sellers in the short term.

  • XAU/USD Trading Tips

Buy another bullish run above the median line (ml), a new higher high. The Stop Loss could be placed below $1,880, while the Take Profit could be placed around the $2,000 level.

Sell a drop below $1,848 former low with a first downside target at $1,800 psychological level.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.