FX strategy Nov 13, 2016

Gold

The previous strategy of shorting gold was very successful. Currently, we still hold the shorting opinion on gold. Gold broke the previous low point at around 1240 and the next strong support level is at 1200.

we can short gold at the pull back around 1240-1251. If there is no pull back, please don’t enter the trade. The target is 1200. If gold reached 1200 and i foresee there will be strong support here (it is the reverse 1.618 point of previous rally). There might be a rally around 1200. And we can buy gold at around this area, but it will depend on the price reaction. Let’s watch it closely.

gold_nov13_2016

AUDUSD: if AUDUSD can’t break 0.7500, then let’s wait for the pull back around 0.7600 and short around there.

USDJPY: If USDJPY didn’t break 106,then we can long USDJPY at here and the next target is ~107.50.

 

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