XAU/USD is trading within a tight range. There is some potential for correctional growth. However, Gold still stays within a range. We give no recommendations as there is no clear trend. There is some important US data today. It may stimulate fluctuations. However, it is very difficult to predict the direction at the moment. It is better to avoid trading.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was a breakthrough of the red trendline last week. We expect XAU/USD to correct in the next couple of days.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. We advise to avoid trading as the trend is still unclear.
XAG/USD failed to do an upside correction and the situation remains unchanged. There is a probability that today’s US data is going to increase volatility. The price is close to the trendline on the Weekly chart at the moment and may break it through. In this case we expect the decline to accelerate. However, this scenario is doubtful.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. XAG/USD declined last week according to our expectations. We think that the precious metal is going to do an upside correction this week.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is below the Ma55 balance line. We advise to avoid trading until the situation becomes clearer.