XAU/USD awaits trade info

Author: FBS | Category: News

A fresh trading perspective for the Friday crowd

Gold
ForexLive
SELL 1,489; TP1 1,481; TP2 1,470; SL 1,493


Market dynamics on Friday will be defined by the risk sentiment and that, in turn, depends on the outcome of the US-China trade talks. While a broad agreement seems unlikely, the market looks ready to cheer even on the minor improvements and reassurances.

There are many ways to trade risk sentiment these days. One of the most attractive bets on the positive outcome of the negotiation is selling XAU/USD. Gold has made two unsuccessful attempts to get above 1,515 in October after forming a lower high in September that still looks quite disturbing for buyers.

The decline below 1,490 will open the way down to 1,481 and then potentially to 1,470. Only the advance above 1,515 will bring the level of 1,535 to the table.

FBS 2

This post is written and submitted by FBS Markets for informational purposes only. In no way shall it be interpreted or construed to create any warranties of any kind, including an offer to buy or sell any currencies or other instruments.

The views and ideas shared in this article are deemed reliable and based on the most up-to-date and trustworthy sources. However, the company does not take any responsibility for accuracy and completeness of the information, and the views expressed in the article may be subject to change without prior notice.

This article was submitted by FBS.
 
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