Gold has intentions to go upwards but long trades from the MA55 were false. The currency pair offered an opportunity to buy from the MA55 balance line tonight. We still think that there will be another opportunity to open long trades during the day and we still advise to look for it. Market participants are waiting for today’s FOMC Meeting Minutes and we think this release will result in sharp fluctuations. We advise to close all positions or to protect them before the event.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. XAU/USD failed to reach 1100,00 and we think Gold is unable to touch this level in the nearest future. We think that the price is going grow within a framework of a current upside correction.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to open long trades from the MA55 balance line area. Place stop losses below the curve.
Silver crossed 16,24 yesterday and we think it is time to look for long trades from this area. There was a good opportunity tonight but most of us was far from charts. We think that there will be another opportunity during the day to enter the trades.
There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen some growth last week and we think that the correction is on the way. XAG/USD may continue its upside correction this week.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is close to the MA55 balance line. We advise to open long trades from 16,24 area. Place stops below this level.