Last week saw a nice playout of the market read with us hitting that resistance zone and then retesting and finally crashing. This happened by Tuesday so a retracement was always in the cards leading to another drop off as NFP reports pushed the price back to retest lows at 1680. This week we are expecting a return to channel top or a skirting of the trend line to another dropoff. This week will see lots of news for USD as well which if positive can see Gold trying for that 1650 zone. If the news is less than promising we can see gold recovering to 1710/20 region.
NOTE: THIS IS NOT FINANCIAL ADVICE AND IS NOT TO BE TAKEN AS A SIGNAL OR TRADE SET UP. THIS IS A REVIEW AND CRITIQUE OF THE MARKET FOR ANALYTICAL AND LEARNING PURPOSES ONLY
NOTE: THIS IS NOT FINANCIAL ADVICE AND IS NOT TO BE TAKEN AS A SIGNAL OR TRADE SET UP. THIS IS A REVIEW AND CRITIQUE OF THE MARKET FOR ANALYTICAL AND LEARNING PURPOSES ONLY