XAU/EUR could head lower. After having noted a pin bar pattern at its resistance area, the market might favour a stronger EUR now. Meanwhile, on a fundamental level, the USD seems to be on a downtrend currently which could also make the EUR more attractive.
Should the stock markets move higher this morning, we would expect demand for safe-havens and specifically Gold to decrease. We would, therefore, like to SELL XAU/EUR at 1,566 with SL at 1,591 and TP at 1,528.
