This week was very bearish for Gold: the price broke and closed below an important structure cluster based on a horizontal demand zone and a rising trend line.
Now the broken area turned into a strong resistance cluster. From that, I will expect a further decline.
Next support: 1780 - 1790 area.
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I agree, kind Sir! I will wait for further declines in the yellow metal.
Blakberi
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@Blakberi That is to say, declines in gold priced in the relative strength of the USD versus the basket of other currencies in the DXY, implying near-term US dollar strength as folks exit their equity positions and hold US demoninated bonds. Gold has done quite well for certain folks depending on their domestic currency. It depends where we live to a certain extent.
VasilyTrader
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@Blakberi, thank you for sharing your thoughts my friend)))