XAUUSD - here is my analysis on GOLD I am WATCHING the the 1240 price region which i have marked with a yellow support zone it would be interesting to see what happens around this zone in the next couple of weeks.
i am looking to see if price can respect this zone and make its way back up - heres what else we would need to see in order for that to happen check updates in comments section !
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DXY - Dollar Index Chart the dollar has shown a push away from the 95.00 price level in that time we seen gold rise in price.
in order for gold to continue a bullish cycle it would be best to see a lower dollar (DXY) PRICE
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If the DXY is to break the 95.00 price level that would most likely cause Gold to break the 1240 Level that it has reversed from recently and head towards the 1225 - 1200 region
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The DXY Has pushed through the 95.00 price level - when looking at gold we can see the correlation between this movement of the 2
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with the dxy breaking 95.00 GOLD is most likely on its way down to the 1204 - 1200 range