XAU/EUR Trading Analysis (14/05/2025)
The trend is ascending. Gold is trading within the 365-135 EMA range. The descending wave structure has been truncated. There is bullish divergence on the Awesome Oscillator and the Stochastic Oscillator indicates an oversold condition.
Trade idea:
- Buy when the ascending wave structure begins forming and wave A breaches the sloping channel of the truncated descending structure.
- Stop-loss at 2878.40.
- Price targets are 2965.00 and 3012.00.
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