After trading off the resistance trendline it all points to a continuation to 1830 area. As long as the greenback (USD) keeps losing some ground against other pairs, it looks like people will go long on gold.
Be careful though as if you analyse FED words in depth we could be on the verge of a reversal in the coming weeks.
Bulls will look to clear out 1830 and 1865 while bears need to go below 1770 and 1726 to attract short investors.
I will stick to my plan and take my trades on the said areas.
Be careful though as if you analyse FED words in depth we could be on the verge of a reversal in the coming weeks.
Bulls will look to clear out 1830 and 1865 while bears need to go below 1770 and 1726 to attract short investors.
I will stick to my plan and take my trades on the said areas.