Orion-Markets

Gold (XAU) Sell idea

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Last week most USD pairs and indices fell in price drastically which resulted in Gold rising past the key 1820 level. However, it appears that the momentum has slowed down for Gold as there has been a failure to reclaim the 1830 level. Because of this and the fact many USD pairs and Indicies have seen some buying activity at their low levels, it might mean that Gold will fall in price as the USD starts to strengthen again. The target of this trade is at the recent resistance level of 1814, proceeding this, 1804 and 1796 are final targets. The stop loss area for this trade is located in the 1827 region.

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