Demand for euro and gold surged yesterday after traders deemed Jerome Powell's statements as not as hawkish.
The yellow metal rose by as much as 2,700 pips an hour, thereby hitting the December low. Now, the target for XAU / USD is the area of sellers shown in the screenshot below:
Do not place stop orders at this level.
Likewise, EUR / USD hiked and advanced to lows reached last November and this December.
With this, the main target for long positions now is 1.13227, where most sellers are located.
It is also not ideal to place stop orders at this level.
These trading ideas are based on Price Action and Stop Hunting strategies.
Good luck and have a nice day!
