XAU/USD broke through the trendline on the Weekly chart. The US Labor Market data was better than expected. The price went upwards after some fluctuations. Market participants are probably sure that this data will not influence FOMC decision on interest rates. Let us not forget the results of the “Brexit” Referendum which still play an important role and will do it in the nearest future. Gold buyers have rather good chances as only 24percent of futures trades expect interest rates growth in December.
There is the uptrend on the Weekly chart as the price is above the MA55. We have seen the break through of the resistance at 1350,00. You may consider new target at the moment.
The Hourly chart shows the uptrend as the MA-channel goes upwards and the price is above the MA55. We advise to open long trades from the MA55 targeting 1400,00.
XAG/USD had a sharp growth on Friday after some fluctuations and hesitations. The price determined the direction for the next couple of days. The target is at 25,00 as market participants open long trades. This level may be reached in the nearest future.
There is the uptrend on the Weekly chart as the price is above the MA55 targeting new resistance level at 25,00. XAG/USD may reach this level in the nearest future.
As for the Hourly chart, there is the uptrend here as the MA-channel goes upwards and the pice is above the MA55. We advise to avoid trading today as the price is close to the upper side of the MA-channel.