
Forex and Xau/Usd(Gold) outlook for 21.11.2023
Gold is pressing for a break
In my post yesterday, I mentioned that I am bullish Gold as long as the price stays above the 1975 zone.
Although there was a spike under this level during the day this, ultimately, proved to be a false break and XauUsd closed above the support level.
This false break, added to the overall picture, reinforces my bullish outlook, and I anticipate a rise above 2000 soon.
Technically, XAUUSD is trading just below local resistance and is pressing for a breakout. Buying dips should remain the strategy, and yesterday’s low should serve as a stop loss.
On the upside, the recent high at 2010 is resistance, but in the medium term, I’m looking for a new all-time high.

EurUsd- Does it have more fuel left? (On request:) )
As you may recall from my previous posts, I was bullish on EURUSD and expected it to reach 1.08 and 1.09 after achieving the first target. Currently, with the price above 1.0950, we are wondering if EURUSD still has more momentum. I believe it does, and we could see the pair testing the important resistance zone just above 1.1. As long as the price remains above 1.0880, buying dips is the preferred strategy.

EurAud- Will it drop to 1.63 again?
After reversing to the upside from the confluence support of the trend line started in January and the horizontal level at 1.63, EurAud touched twice 1.6850 resistance and reversed each time.
Now the pair is flirting with short-term support and a breakdown could follow
In this instance, EurAud could drop further and I have 1.63 support as a target
The pair is bearish under 1.6850 and traders should look to sell rallies in search for a good risk: reward.

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