XAU/EUR Trading Analysis (19/12/2024)
The trend is up. Gold trades between 365 and 135 EMAs. The descending truncated wave structure ended with the breach of the descending channel. There is a bullish divergence on the Awesome Oscillator. The break of the 2523.50 level will start the formation of the rising wave structure.
Trade idea:
- Buy on the breach of 2523.50.
- Stop-loss at 2494.00.
- Price targets at 2552.50 and 2592.00.
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