The move to the downside may continue towards the last low at $1,260. I have decided not to open any long positions yet.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

The breakout will likely be confirmed if it passes the next resistance at $1,283.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

So much about a rally. I hope you're right and it does begin moving to the upside again, I have a long position.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I agree, but the question is whether it will break out above that level or bounce off from it and begin falling back to $1,260.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Friday and Monday are usually ranging days, that wouldn't be anything unusual. The question now is whether it will continue falling below 1,260 after.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

There are a number of doji candlesticks the Gold one-hour time-frame at $1,290, but it still looks quite bullish to me.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

You're right, it did stall. At is looks, it won't be breaking out below 1.3150 at all.

Cable Update (GBPUSD)

It's testing 1.3150 for now. A breakout below that level could lead to a drop to 1.3090, but I wouldn't open a short position before said breakout.

Cable Update (GBPUSD)

You were right, it found some resistance at 0.7195 and bounced off from that level. Next target is likely around 0.7140.

NZD/USD

The pair is testing 1.3300. If it breaks out above that level it could reach 1.3500, but I am unwilling to open new positions right before the market closes in a few hours.

Cable Update (GBPUSD)

Gold has almost reached $1,300, it will likely test it very soon. A breakout will probably lead to a further rally to $1,315.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I've decided to wait out the fundamentals. They're in 30 minutes anyway, after that it'll be easier to trade.

EURUSD

There's a triple bottom at 0.7050 and an inverted hammer candlestick on the daily time-frame at the same level, the pair will likely continue moving to the upside. If it breaks out above 0.7100 I will open a long position.

NZD/USD

I opened a long position on Gold - if it breaks out above $1,285 it may move to the upside towards $1,300 again.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

It was on the daily time frame. Here is a screenshot, I've encircled the candlestick in question: image The inverted hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential reversal upward. It ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I thought that Silver might fall to 16.00, but it formed a spectacular inverted hammer candlestick at 16.50 instead. This might be the end of the move to the downside.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

It will probably last until the fundamentals on Friday. I have closed my positions and I am waiting to see what the results of the data announcement will be.

AUD/USD

Silver continues consolidating above 16.55. Despite that it is still quite bearish and a breakout could lead to another drop towards 16.00.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Usually, when there's a breakout the instrument retraces back to test test the level of the breakout and then continues falling (or, if it is a false breakout, it climbs back above the support it broke out below and keeps moving to the upside). Or, ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Gold appears to have broken out below $1,280, if that breakout is confirmed next week I will open a short position. It may drop to $1,250.

XAU/USD & XAG/USD - Gold & Silver Traders Thread