XAU/USD - Potential Short/Long based on key level reaction
-Area to watch 1869-75, Break below would indicate the breaking of the bullish structure (trendline from 1680), The holding of the area would result in the revisiting of 1890 with a possibility of 1900.
-Bias towards short however, data from Inflation Rate YoY and Core Inflation Rate YoY could invalid the short bias.
-Possible downside targets 1875, 1866, 1858, 1848
-Possible upside targets 1888, 1894, 1900.
-Bias towards short however, data from Inflation Rate YoY and Core Inflation Rate YoY could invalid the short bias.
-Possible downside targets 1875, 1866, 1858, 1848
-Possible upside targets 1888, 1894, 1900.
Commento:
Bullish Scenario played out very nicely. Targets of 1888, 1894 met. Top of the trendline has been touched. Missed 1900 by 6 pips as of now. Overall a successful catch.
Commento:
All three targets, 1855, 1847 and 1832 has been met! Perfect two trades.