The pair is currently near 4-bottom area, which currently is around 18.7600. Lower we have GANN support @ 18.4500. Resistance is @ 19.1700 (trend line) and 19.40 GANN resistance. Gold is likely to move lower and this will help the pair to move back up a bit.
the case look like a range trade, and I feel preference to be SELL, even though for those willing could argue BUY near support level @ 18.7600.
Strategy SELL @ 19.0100-19.0700 and place SL @ 19.2200 for now. Profit order near support 18.7600.
the case look like a range trade, and I feel preference to be SELL, even though for those willing could argue BUY near support level @ 18.7600.
Strategy SELL @ 19.0100-19.0700 and place SL @ 19.2200 for now. Profit order near support 18.7600.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.