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FxWirePro: Go long on XAU/USD above $1268 with stop loss at $1262 and target of $1277

Wednesday, May 11, 2016 3:57 AM UTC

XAU/USD is currently trading around $1269 mark.
It made intraday high at $1264 and low at $1271 levels.
Intraday bias remains bullish till the time pair holds immediate support at $1262 marks.
A daily close above $1268 will take the parity up towards $1272, $1285, $1298 and $1303 marks respectively.
Alternatively, a daily close below $1262 will drag the parity down towards key support levels at $1258, $1252, $1248, $1242 and $1237 marks respectively.

We prefer to take long position in XAU/USD only above $1268, stop loss $1262 and target $1277/$1285 marks.

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FxWirePro: Go long on XAU/USD above $1268 with stop loss at $1262 and target of $1277

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