XAU/USD: Trading Recommendations
Yuri Papshev | Apr 14, 2021 08:08AM ET
There is a confrontation in the market between rising government bond yields, which puts downward pressure on the gold price, and rising inflationary expectations, which supports gold. Break of the support level 1736.00 will resume the downward dynamics of XAU/USD.
A breakdown of the local resistance level of 1758.00 will increase the likelihood of further growth of XAU/USD in the direction of the key resistance level of 1794.00.
Support levels: 1744.00, 1736.00, 1700.00, 1685.00, 1615.00, 1560.00
Resistance levels: 1758.00, 1794.00, 1852.00, 1874.00, 1963.00, 1976.00, 2010.00, 2075.00
Sell Stop 1735.00. Stop-Loss 1751.00. Take-Profit 1700.00, 1685.00, 1615.00, 1560.00
Buy Stop 1751.00. Stop-Loss 1735.00. Take-Profit 1758.00, 1794.00, 1852.00, 1874.00, 1963.00, 1976.00, 2010.00, 2075.00
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