XAU/USD: Trading Recommendations
Yuri Papshev | May 26, 2021 07:56AM ET
Against the backdrop of rising inflation, Fed inaction and the prospect of further weakening of the dollar, the XAU/USD pair retains the potential for further growth. In this case, the targets will be the marks 1963.00, 1976.00 (local highs), 2000.00.
In an alternative scenario, XAU/USD will resume the downward trend, and the breakdown of the short-term support level of 1893.00 will be the first signal for the pair to sell.
Support levels: 1900.00, 1893.00, 1870.00, 1830.00, 1820.00, 1800.00, 1700.00, 1685.00, 1635.00, 1560.00
Resistance levels: 1910.00, 1963.00, 1976.00, 2000.00, 2010.00
Sell Stop 1890.00. Stop-Loss 1912.00. Take-Profit 1870.00, 1830.00, 1820.00, 1800.00, 1700.00, 1685.00, 1635.00, 1560.00
Buy Stop 1912.00. Stop-Loss 1890.00. Take-Profit 1963.00, 1976.00, 2000.00, 2010.00
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