TradeItAnyway

Gold bullish scenario

TradeItAnyway Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
taking into consideration media headlines with Delta Covid increasing cases, any lockdown which might be likely + stimulus, will push stocks higher, gold higher , DXY already formed a bearish weekly reversal. So for time being, gold either trend up continuation or at least higher degree correction to 1840 1855 1870.
Comment:
taking into consideration media headlines with Delta Covid increasing cases, any lockdown which might be likely + stimulus, will push stocks higher, gold higher , DXY already formed a bearish weekly reversal. So for time being, gold either trend up continuation or at least higher degree correction to 1840 1855 1870.

A break above 1816 will test 1834, if we break 1834 then we should test 1840 1855 1870 at least


however, a break below 1765 is bearish and we can retest 1750 1680 zone.

Buy positions at 1785 stops 1780

1772 stops 1765

TP 1796 1805 1813 1830

a break above 1834 will test 1840 1855 1870

Regards

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