XAUUSD | Perspective for the new week | Follow-up details

已更新

The Greenback remains firm and strong ahead of the FOMC meeting this week. During the course of last week's trading, we witnessed a significant breakdown of the demand zone at around the $1,700 area to incite a bearish signal. So, is the price going to retest the $1,700 zone to confirm a selling momentum or will there be an opportunity to buy right above the $1,700 this week?

Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

交易开始

I am still monitoring price action - is the price going to respect the demand zone to signal a bullish momentum or is there going to be a breakdown of the demand zone to signal a trend continuation to the downside?

Good morning

交易开始

Multiple rejections of the demand zone resulted in a breakout of $1,690. I am moving my stop-loss to break even. Another opportunity to re-enter above the $1,690 could happen if a retest of the structure happens.

交易开始

Breakout/retest of structures happens as the price comes back to the entry zone. Doing a re-entry right above the $1,670 (a typographical error yesterday - its $1,670 not $1,690)