ForexTrendline

The downfall on gold is due!

Short
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold couldn't manage to break below the key support yesterday but it makes another try today.

With every new try it is more likely that we will see price breaking below. Like we said many times before we expect price to reach the 1775 level.
Then any active sell trades will be with stops in a positive territory and when it comes to new entries, we recommend to wait for a clear breakout!

The next downside move should take the market down to 1775.

To find out how this position develops make sure to follow us!
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Comments

and with more and more people left with so much uncertainty with the markets, i think more people will devote time and energy toward their finances by taking personal finance courses
+1 Reply
ForexTrendline richardjeffrey
@richardjeffrey, I think this is very good. As long as you don't come across scammers promising millions in profits in a short time and effortlessly.
Reply
Your explanation has no basis in finance or economics, or even broader sociopolitical context. You don't even use basic TA. The US10Y and now the DXY are gradually falling. The DXY was temporarily pumped during the correction because of fear. That fear has now subsided as markets have rebounded. With both the DXY and US10Y heading down, PLUS the imminent passage of the massive infrastructure bills, gold will break out of the range.
+1 Reply
@braingirl1994 heading higher but, a brief pause until FOMC
+1 Reply
@Scrollze, Good decision!
Reply
ForexTrendline braingirl1994
@braingirl1994, Our analysis aims to make money.

We do not try to explain economic or social principles - this is not the place about!

The trend is down and we are benefiting from it.
In the last 2 weeks there were many sell opportunities that were successfully completed and reach their target zones.

Here is one of them:


And last but not least.

What time frame do you trade economic principles on? H1 ... great, you probably know better!?

We look at bigger chart when we talk about economic principles!

In the long term, we expect gold to go over $ 2,000 and even $ 2,500, but that doesn't mean we won't see $1,775 and lower levels, where we can buy before.

Good luck!
Reply
great analysis mate
+1 Reply
ForexTrendline Stargazer_fx
@Stargazer_fx, thank you
+1 Reply
Best post!Thanks a lot
+1 Reply
ForexTrendline OptimoomFX
@OptimoomFX, no worries bro, thanks!
Reply