Gold price currently holding very well on the 1810 support, assisted by fibonacci 78.6 and 61.8 levels.
I am entering a long from this point on with a stop just below 1809 and targeting the 1825 region, where price experienced resistance before falling from 1830 highs.
- Strong momentum pushes from 1810 support area, forming a clear highs and lows pattern, price taking out previous higher high with strong momentum in the beginning of NY session on 2nd august. Now on 3rd of august price once again showed strong momentum coming in from the current support area just as NY session started. I am expecting another push higher with very strong momentum during the next London-NY session on 4th august, as there are fundamental news releases coming in on the dollar (ISM services PMI and ADP Non-farm employment change).
Lets see how it goes.
I am entering a long from this point on with a stop just below 1809 and targeting the 1825 region, where price experienced resistance before falling from 1830 highs.
- Strong momentum pushes from 1810 support area, forming a clear highs and lows pattern, price taking out previous higher high with strong momentum in the beginning of NY session on 2nd august. Now on 3rd of august price once again showed strong momentum coming in from the current support area just as NY session started. I am expecting another push higher with very strong momentum during the next London-NY session on 4th august, as there are fundamental news releases coming in on the dollar (ISM services PMI and ADP Non-farm employment change).
Lets see how it goes.