XAUUSD raised to a high of 1289 in European session as significant geopolitical events around the globe increased the appetite for safe haven assets. The Gold gained interest due to; protests in Catalonia, Turkey’s visa restrictions and the US-NK word-battle, all helping prices move to fresh highs. Technically gold is facing major resistance around 1290.40 and any decisive break above this level will take Gold till 1298.00.
Support: 1285.50, 1281.50 & 1279.30
Resistance: 1290.4, 1294.00 & 1298.00
Trading Scenarios [Source: RoboForex]
1.
Timeframe: Intraday
Buy at 1287.18 with SL: 1280.00 & TP: 1293.22/1305.37
2. Alternative scenario
Timeframe: Intraday
Sell Stop at 1276.00 with SL: 1282.00 & TP: 1256.30