XAU/USD shows sentiments to change its current tendency and you may try long trades. However, we advise to be careful as the situation Is still unclear. We expect no significant growth. It means that you may earn a little, but try to close your positions in time. Your targets should be close as XAU/USD is in correction at the moment. The precious metal may reach 1275,00 level in the nearest future. It is to say also that tomorrow an important FOMC Minutes are to be released. They may change the current market situation.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. We have seen that the price broke through the red trendline last week. We expect XAU/USD to be trading in correction in the next couple of days.
There is the uptrend on the Hourly chart as the MA-channel goes upwards but the price is close to the MA55. We advise to open long trades fr om the MA55 balance line. Place stop below the curve.
Silver prices show the current tendency to be changed according to our expectations. The situation is similar to that of Gold wh ere you can also try to open long trades. The minimum target lies at 18,00. However, in order to go higher the above mentioned level, it is important for the correction to happen.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. XAG/USD declined according to our expectations last week. We expect the price to correct in the upside direction in the next couple of days.
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. Place stops below the curve.