XAU/USD Signal - August 22, 2012

Currency: XAU/USD
Trend Expected Direction: Up
Method: Ichimoku, Technical Analysis
Description: XAU/USD broke above a strong resistance level and today it is still holding above 1635. Charts show that the pair is strong enough to test the ascending line of a giant triangle formation.
Recommendation: Long
Target Area: 1654
Stop-Loss: 1632

XAU/USD trading signal chart

Alp Kocak
Alp Kocak has been trading Forex since 2003. He writes technical analysis based on Japanese candlesticks and Ichimoku Kinko Hyo.