XAU/USD: gold is stregthening
Read the article on FBS website
Recommendation:
BUY 1225
SL 1210
TP1 1248 TP2 1255 TP3 1263
On the daily chart of XAU/USD, bears couldn't keep the pair within the 1185-1215 consolidation. It signals their weakness. A break of the upper boundary of the downward channel will increase odds of the rise to the 127.2% target of the AB=CD pattern.
On H1, the "Wolfe waves" pattern keeps forming. A successful test of the resistance at 1225 will let bulls hope for the implementation of the "Shark" pattern. Its 113% target is near 1248.
