XAU/USD left the horizontal range. The trade was done at 1323,00 and you may move your stops at breakeven level. You may also try to fix some of your trades and hold short positions until 1307,00. We expect some significant rebound here.
There is the uptrend on the Weekly chart as the price is above the MA55. We have seen a fake breakthrough of the descending trendline. The downside tendency may resume.
There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. It is too late to open short trades today. You may hold your yesterday’s positions if you had an opportunity to enter.
We expected, that Silver may breakthrough the upper side of the triangle. However, it failed to do this and we advise to stay of the market for the moment. The situation is clear at present.
There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD growth to the resistance at 25,00 is postponed.
As for the Hourly chart, there is the downtrend here as the MA-channel goes downwards and the price is below the MA55. We advise to avoid short trades at the moment as the price is close to the lower side of the MA-channel.