Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1310.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 80.
Take Profits:
TP1= @ 1329.00
TP2= @ 1347.10
TP3= @ 1365.10
SL= @ 1286.00
. There is a possibility of temporary retracement to suggested support line (1310.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 80.
Take Profits:
TP1= @ 1329.00
TP2= @ 1347.10
TP3= @ 1365.10
SL= @ 1286.00