Let's take a look at the price action of XAUUSD 0.65% and forecast its next move in the following week. This pair made a recent low at 1236.37 on 12 December 2017 and finished at 1274.75 on 22 December 2017. Therefore, this pair has potentially presented to us a short-term bullish bias.
Based on our forecast, if the bullish momentum continues, we could potentially see XAUUSD 0.65% trade at 1285 level first and we shall watch the price of XAUUSD 0.65% very closely on its next move. Overall, we could see this pair make a series of lower highs and thus, the trend remains bearish. To constitute a change in trend, we need to see XAUUSD 0.65% surpass 1299.10 which was the recent high on 27 November 2017. If you have missed the near-term bullish move, we suggest that you wait for the price action indication at 1285 and 1300 levels.
Good trading
NinjaTrader Singapore
23 December 2017
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance 0.82% on the information in our research materials.
Update idea
Based on our forecast, if the bullish momentum continues, we could potentially see XAUUSD 0.65% trade at 1285 level first and we shall watch the price of XAUUSD 0.65% very closely on its next move. Overall, we could see this pair make a series of lower highs and thus, the trend remains bearish. To constitute a change in trend, we need to see XAUUSD 0.65% surpass 1299.10 which was the recent high on 27 November 2017. If you have missed the near-term bullish move, we suggest that you wait for the price action indication at 1285 and 1300 levels.
Good trading
NinjaTrader Singapore
23 December 2017
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance 0.82% on the information in our research materials.
Update idea
Trade active:
Target 1 has been achieved. Will watch it closely to see if Target 2 (1300) will be achieved. Update again.
Trade closed: target reached:
Target 2 (1300) has also been achieved and therefore, this case study is closed. We will issue another forecasting report on XAUUSD when an opportunity arises.