Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
I think there is a good chance this play out because fundamental side China and US likely reach a limited deal. But once we hit that target for the bears to take profit, the overall outlook of the economy into next year and beyond is still negative. It's just like the 1560 area on the run up, it hits that and it's time to reverse. We like like see 1460 area at some point with a posibility of going down as low as a retest 1400 but I wouldn't bet on that. There are a lot of demand for gold people waiting to buy in.