XAU/USD has expectedly risen and today you have to beware of correction. Gold has had a considerable rally already which may end at any moment. The trendline on the Hourly chart is under bullish bombardment. If buyers break it, the rise may go on.
Weekly chart shows an uptrend as the price is still above MA55. There is a high probability of further rally up to the broken trendline.
Hourly chart shows an uptrend as well as the price is higher than MA55. The channel, made by three MA curves moves upwards. We recommend to fix some trades and hold the rest. If the price goes below MA55 on the Hourly chart, we recommend cutting losses. Right now you may protect your trades by moving your stop-loss to breakeven.
Silver had a considerable rally as well. To forecast the reverse of the current trend you may observe the MA55 on the Hourly chart. If the price goes below it, you may close all your trades.
Weekly chart shows an uptrend as the price is above MA55. The price has approached the red trendline and resumed it’s grow.
We may state an uptrend on the Hourly chart as the price is above MA55. The MA-channel moves upwards. We recommend fixing some of your trades and protect the others by moving stop-loss to breakeven area. We recommend also holding the rest of your trades.