XAUUSD: After 1180, the next move is 1140 before 1080

FX:XAUUSD   Gold Spot / U.S. Dollar
104 0 3
Gold             is loosing weight, and the path of the precious metal is set to go to 1140 before coming to 1080 and 1060. I do expect a stabilization at 1060 max unless the move is so quick and dense that the precious metal may fall bellow 1000 to 960 but we are not there yet, and it is very much too early to predict. However, as you may know, past supports level became resistance and that is why it is very much important to observe forthcoming support level .
At the present time, 1180 was a support level that became a resistance.
1150 and the neighborhood is a solid support level bellow which we may really go quickly towards 1140, 1120 and 1080.
On a macro economic point of view, there is no yet any reason for investor to go towards XAUUSd             and diversify its investment, because there is no prospect yet of inflation , nor any short term move on the interest rate. Therefore, Gold             will be an interesting commodity to invest on when there will be at least one of the two reason on the table at a foreseeable future.
For those who shorted gold             since 1800, of course, you can keep your position. For others, unless you are a day trader, it would be wise to wait and see the shape of XAUUSD             and a stabilisation before entering a long position.
Enjoy your week-end
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out