Monday, October 23, 2017

How is everyone doing today? XAU continues to dig down on the spot price apparently as a response to interest rates and alternate investments rather than EUR/USD or the geopolitical environment. I would expect a weekly low around 1254 unless something unexpected happened before Friday. This week is sort of light on news except for the Japanese election and the GDP (preliminary) on Friday. Due to the nature of those releases SL orders are highly advisable for shorts.



Disclosure: I´m short from 1290 and I have just lowered the SL order to 1282, TP is now @1254.

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5 comments:

  1. MertOctober 23, 2017 at 10:11 AM

    Sir Cesar, hope all is well too.
    I see similarities with the June fall( but not expecting 1200), I am targeting 1257 with my sells from 1291. Price expectation for year end by big banks are around 1250-1300.. I will consider buys just after take my profit from this current position. Regards and have a nice day sir..

    ReplyDelete
  2. CesatoOctober 23, 2017 at 10:17 AM

    1200 is based on the trendline on the monthly chart that has been building up since Dec. 2015, just a guess but it is my best educated guess. 1250 is a "very good support" which means that if broken then getting down to 1200 is a matter of days. Longs above 1250 deserve a very tight SL order.

    ReplyDelete
  3. UnknownOctober 23, 2017 at 11:05 AM

    Sir XAU is flying now. What happen, any news?

    ReplyDelete
    Replies
    1. CesatoOctober 23, 2017 at 2:58 PM

      Nope, no news that I know of

      Delete
    2. gastro vazzeOctober 25, 2017 at 4:01 AM

      there was some volatility on USD pairs yesterday everywhere

      Delete

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