XAU/USD did not new lows of the week on Friday and traded in a range, which was formed on Thursday. However, all short trades according to our recommendations were successful. The price declined from the MA55. Today we expect the range to develop as there are no reasons for the situation to change.
There is the uptrend on the Weekly chart as the price is above the MA55. XAU/USD made a fake breakthrough of the descending trendline and may continue to decline.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. There is no reason to open trades as XAU/USD will probably fluctuate in the short range.
Silver slides down to the lows of the last week according to our expectations. XAG/USD continued to decline today on the morning and the minimum of the last week was broken through. This tells us the market is ready to continue such a dynamics which may result in a good trend.
There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD growth to a new resistance at 25,00 is postponed.
There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. We do not give any recommendations for today.