Mihai_Iacob

Gold before NFP- 2010 next?

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
In my previous published idea, I said that Gold could reverse and rise to 1980 resistance.
XauUsd acted by the technical analysis book this time and after an initial break above the falling trend line, dropped to confirm the new support and reverse back up.
Now the price is exactly in 1980 resistance and seems determined to break above.
NFP could provide the trigger for a break and the price could continue its ascent to the next important level at 2010.
In conclusion, my outlook remains bullish for the yellow metal and the strategy remains unchanged: buy dips.
Only a daily close under 1955 would put a pause to this scenario


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