Trader_97
Short

GOLD PREDICTION

FX:XAUUSD   Gold Spot / U.S. Dollar
46 0 0
AFTER A SHARP DECLINE FROM 1182 ALL THE WAY DOWN TO 1074 WE HAD THE SUPPORT @ 1070 FROM 15TH OF JULY IN FOCUS.HOWEVER GOLD             HAS SEEMINGLY A FOUND SUPPORT AT 1074 AREA JUST SLIGHTLY ABOVE IT, WE ARE LIKELY TO CONTINUE TO CONSOLIDATE FOR A WHILE IN A 1070-1098 RANGE -BEFORE THE NEXT BIG MOVE LOWER THAT BEING SAID WITH THE RECENT WEAK USD DATA PRINTS THAT CAME OUT FRIDAY LAST WEEK.I EXPECT TO SEE A MOVE TO THE UPSIDE AROUND 1094-98 AREA AND THEN WE COULD CONTINUE LOWER AND IN CASE DOLLAR WEAKNESS CONTINUES AND WE BREAKOUT OF THAT RESISTANCE LEVEL .I WOULD PREFER TO SHORT XAU/USD             @1120-1126 AREA ,ALSO PRICES ARE STILL WELL BELOW THE 100 DAY SMA AND 50 DAY EMA .
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