With the US election on 3 November 2020, Brexit Deadline on 31 December 2020 and the negotiation is not going anywhere, and lots of jobs losses due to the Pandemic-Covid19, we have steered our trading and investment towards XAUUSD(Gold).
Gold has been a go-to when the economy doesn’t look optimistic, and historically there is a lot of emotional buys (long) on Gold in a situation like this. We had engaged the trade early this morning at 0925hr(+8GMT) at $1903.89, and this moment we have shifted our stops (cut-loss price) to entry, attaining a risk-free trade. We foresee there is a possibility of us holding on to this trade as long as early-February 2021.
This article first appeared on Forex100 Academy
