At this hour, the XAU/USD is in heavy rotation. Nonetheless, there are a few weekly support levels in our immediate vicinity:
Support(1): 62% Fibonacci Retracement, 1821.00
Support(2): 78% Fibonacci Retracement, 1806.00
If we see a bearish break, a nice buy from 78% may set up. Here's the trade:
1) Buy 1806.00
2) Stop Loss 1794.00
3) Profit Target 1818.00 (1:1 risk vs reward ratio)
Support(1): 62% Fibonacci Retracement, 1821.00
Support(2): 78% Fibonacci Retracement, 1806.00
If we see a bearish break, a nice buy from 78% may set up. Here's the trade:
1) Buy 1806.00
2) Stop Loss 1794.00
3) Profit Target 1818.00 (1:1 risk vs reward ratio)