The area around 1910 has proved to be a tough resistance for the bulls so far.
Currently, there is a clear absence of bullish price action.
US dollar is consolidating and slowly gaining strength across the board due to
Fed tapering related concerns. The rise in inflation also might be a reason why
investors are starting to price in an early move by the Fed. Thus it makes sense
for US dollar to strengthen and Gold to drop in the coming days.
So, a sell entry@1895-1910 with SL above 1925 and initial TP at 1865 and final
TP at 1823 would be huge sell trade.
Currently, there is a clear absence of bullish price action.
US dollar is consolidating and slowly gaining strength across the board due to
Fed tapering related concerns. The rise in inflation also might be a reason why
investors are starting to price in an early move by the Fed. Thus it makes sense
for US dollar to strengthen and Gold to drop in the coming days.
So, a sell entry@1895-1910 with SL above 1925 and initial TP at 1865 and final
TP at 1823 would be huge sell trade.
Trade active:
Sell executed at 1902 as per idea
