FxWirePro: Go Long on XAU/USD Above $1268 With Stop Loss at $1262 and Target of $1277

FxWirePro: Go Long on XAU/USD Above $1268 With Stop Loss at $1262 and Target of $1277

11 May 2016, 06:42
Roberto Jacobs
0
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FxWirePro: Go Long on XAU/USD Above $1268 With Stop Loss at $1262 and Target of $1277

  • XAU/USD is currently trading around $1269 mark. 
  • It made intraday high at $1264 and low at $1271 levels. 
  • Intraday bias remains bullish till the time pair holds immediate support at $1262 marks. 
  • A daily close above $1268 will take the parity up towards $1272, $1285, $1298 and $1303 marks respectively. 
  • Alternatively, a daily close below $1262 will drag the parity down towards key support levels at $1258, $1252, $1248, $1242 and $1237 marks respectively.

We prefer to take long position in XAU/USD only above $1268, stop loss $1262 and target $1277/$1285 marks.

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