XAU/USD Weekly Update 21-25/9/2020
Updated
The XAU/USD exchange rate has revealed a rising wedge pattern. On Tuesday morning, the exchange rate consolidated between the monthly PP at 1,961.20 and there was a lot of rejection when trying to break the S2 at 1,937.55. From a theoretical point of view, the yellow metal is likely to continue strengthening against the US Dollar in a certain pattern in the short term. Meanwhile, if the predetermined resistance level holds, it is possible that the exchange rate can be traded sideways in the next trading session.
Trade active
currently I am holding a long position of 10 lots 1.910,56 from and 10 lots from 1.935,08 my target will be partial close according to the market situationTrade closed manually
I have closed profit for all positions at 1,955
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