FX_IDC:XAUUSD   Gold Spot / U.S. Dollar

As we can see price of gold this week has been significant as U.S. Federal Reserve will maintain a dovish tone at its policy meeting this week.

Expectations for a dovish tone on the US Fed's policy caused gold to rose by 0.3% ending at $1,306.76 per ounce and US gold futures increasing by 0.4 percent at $1,306.80.

Gold , which is a safe haven investment, is expected to move higher in response to the Brexit uncertainties and weakning dollar.

Furthermore we see another resistance on gold as it continues to go high as expected we can see
As well on the RSI and Stochastic an upward movement is about to bound and break it all time high!
and as we set a Resistance level just in case it will continue it’s movement not just because USDollar is to weak right now it has a somewhat a co-relation in CrudeOil as Oil at four-month high as OPEC sticks to plan and its allies announced at the weekend its determination to follow through with production cuts until at least June, and possibly to the end of the year.

Good luck Traders!


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