Gold approached the broken level of 1241.40 + 50% Fibonacci level. Now, the price slowed down right next to our resistance area, therefore we should wait for the candlestick pattern to form and then try to sell this asset. In this case, the Profit/Stop ratio looks very attractive to us:
For the second time in a row, the currency pair approached and retested the broken level in the daily chart. It has formed a bullish engulfing touching the level of 138.70. So, let’s buy it at the current price (140.40):
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