XAU/USD: TRADING RECOMMENDATIONS – Analytics & Forecasts – 21 July 2021

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XAU/USD: TRADING RECOMMENDATIONS – Analytics & Forecasts – 21 July 2021

The XAU / USD pair needs new drivers. A breakdown of the local support level of 1796.00 can provoke a decline towards the lower boundary of the ascending channel on the weekly chart and 1761.00 mark with the prospect of a deeper decline to the support level of 1685.00 (61.8% Fibonacci retracement to the growth wave since November 2015 and the level of 1050.00) (see also  “Fundamental Analysis and Recommendations”)

In an alternative scenario and after the breakdown of the local resistance level of 1832.00, XAU / USD will strengthen the upward trend. Against the backdrop of rising inflation and maintaining the neutral position of the Fed, the XAU / USD pair has the potential for further growth. In this case, the targets will be the marks 1916.00, 1963.00, 1976.00 (local highs), 2000.00

  Trading recommendations

Sell Stop 1790.00. Stop-Loss 1815.00. Take-Profit 1761.00, 1685.00, 1654.00, 1586.00, 1560.00

Buy Stop 1815.00. Stop-Loss 1790.00. Take-Profit 1832.00, 1900.00, 1916.00, 1963.00, 1976.00, 2000.00, 2010.00

*) XAU/USD:  Current Fundamental Analysis and Market Expectations

**) the most up-to-date “hot” analytics and trading recommendations (including entries into trades “by-the-market”) – https://t.me/fxrealtrading

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