FX:XAUUSD   Gold Spot / U.S. Dollar
Gold has respected the trendlines drawn in the previous analysis. On the 4hr timeframe, gold is currently forming a falling wedge and it is respecting the lines drawn. If you were to take a look at the weekly analysis, the price of gold is almost reaching the 0.618 fib retracement zone, price at 1689.33. so anywhere between 0.5-0.618 is a good area to put in your longs for the long term. Bigger SL because it is NFP tomorrow and anything might happen! I've already locked in a trade, and we shall see where the price goes. Good luck traders!
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