XAUUSD, H1
On the H1, XAUUSD formed an ascending channel pattern. The price bounced off the lower trend line and critical support. The price crossed the lower Bollinger line, with the CCI and %R coming out of oversold condition.
- XAUUSD may be considered to buy on consolidation above 2640 with a target to 2657 and further to 2665;
Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.
Author: Egor Schmidt
