Reasons: - the price is squeezing under the Strong Support/Resistance Zone; - it will get a lot of "fuel" for rising above the zone; - potential profit will be 3 times bigger than the risk.
Dear followers, the best "Thank you" will be your likes and comments! Before to trade my ideas make your own analysis. Thanks for your support!
@Yuriy_Bishko, Thanks mate. Hopefully pulls back for you.
FARDUN_RUMON
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fed rate cut has already been priced in. If corona fear fades, it's time to sell gold. CORONA fear is the only thing that's keeping the gold price level higher. I am not really eager to buy gold this month. FOR ME IT"S TIME TO SELL ALL THE WAY TO 1560-1570 LEVEL
@gnosis7777, I AM SORRY I COULDN'T EXPLAIN PROPERLY. I WAS TALKING ABOUT FUNDAMENTALS AND A POTENTIAL 2000-2500 PIPS DOWN MOVE, NOT A TECHNICAL 200 PIPS UP MOVE.
FARDUN_RUMON
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@gnosis7777, hello, have you seen the gold chart recently ?