Gold is still influenced by the Trump victory. However, we expect XAU/USD to stabilise its fluctuations and establish a bias. There is still no trend. The MA-channel shows no clear direction. The trendline on the Hourly chart remains unbroken and this fact may be a sign of further upside tendency.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The upside correction reached 1306,00 area last week. However, fundamental factors will have a considerable impact on XAU/USD this week and we advise to take any decision only when the situation is clear.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the Ma55 balance line. We advise to avoid trading as the situations is still unclear.
Silver established the uptrend finally and is trading according to this tendency today. We advise to buy from the MA55 balance line area. However, the price has already left this area. We expect XAG/USD to reenter this area again today.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was an upside correction last week. However, it is hard to predict fluctuations this week.
The uptrend is in progress 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 area. Place stop losses below the curve.