|XAU/USD : The gold is shaping a symmetrical triangle|
|At the beginning of May, we see the pair XAU/USD has shaped a symmetrical triangle of bottoms letting us think that the bearish movement should pursuit.To stay close to our last analysis, we are neutral between 1580 and 1600 points. We advise to wait an exit of this range to take positions:|
- Long above 1600 points. The breakout of 1620 points will give a new buy signal
- Short below 1580 points. The breakout of 1560 points will give a new sell signal.
Most agressive traders could trade the gold according to the key level at 1590 points.
|Complete sheet of the pair XAU/USD (Gold) - Previous XAU/USD (Gold) Analysis|
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom in :
Chart of the pair XAU/USD (Gold)- Timeframe 4H - Zoom out: