XAU/USD Analysis: Tuesday, April 3, 2018

Market Info

Gold prices rose again, gold's gains came as concerns over the heated up of trade war between China and the United States, China surprisingly reciprocated by raising import duties on American goods by 25%, after the United States imposed a large import duty on steel and aluminum originating from China.

Factors of American economic data also affect the strength of gold, where ISM Manufacturing PMI data recorded with a value of 59.3 smaller than last month's record value of 60.8.

Technical Analysis

Trading Plan

Opportunities:

• Buy Stop 1342.90, TP 1346.90, SL 1342.90.
• Sell Stop 1336.41, TP 1332.41, SL 1338.41.

Update 3 April March 2018 (American Session)
Price touches Sell Stop, and goes to Take Profit. The analysis is invalid.

This analysis is not fully profitable. Profits can be achieved according to the skill in utilizing the market situation. Notice High, Low, current prices, and broker server hours when this analysis is made.