XAUUSD Dipping on Hourly in Area of Strength

XAUUSD Dipping on Hourly in Area of Strength for FX:XAUUSD by FXCM

XAUUSD Dipping on Hourly in Area of Strength

Gold/U.S. Dollar FX:XAUUSD



XAUUSD is in the bullish area on the daily chart on the left. A bullish cross of EMAs and stochastic on the hourly (on the right) will potentially align short-term traders with the daily. If these occur, a movement of stochastic to 80 level and maintenance thereof increases the potential for a successful trade. Trend following indicators may be useful in this case as a potential exit tool. Stop below hourly low in conjunction with risk management techniques.

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