July 13, 2021 10:10 am

XAU to USD Trading Analysis 13-07-21:

XAUUSD is trading at 1808.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1795.00 and then resume moving upwards to reach 1855.00. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1775.00. In this case, the pair may continue falling towards 1745.00.

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