XAUUSD bounce off Demand zone

FX:XAUUSD   Gold Spot / U.S. Dollar
134 8 5
Buy at demand zone at market price and close position at major supply zone at 1360
Order cancelled
datas at usa are good , eur is blowing up with bank issues. so why 1360?
Reply sulbas
Dollar strength isn't in question. It is more to do with equities as a whole and and emerging markets.
Reply sulbas
And if the EZ is in another banking crisis, it will only push up the value of gold as it is a risk off situation.
thank you
Reply sulbas
It should be fairly risk off until the end of the year and chinese PMIs should tick up as well. Saudi Arabia is a key player as well in the price of gold as if they keep on liquidating gold to maintain the riyal peg, gold will fall. So, in the event of an Oil rally, gold should be very much bid. Watch out for any movement in Natural Gas futures as they are a great indicator of movement in Gold as well, as seen pre- brexit poll announcements. Natural Gas rallied just before the news and GBP then plummeted 10%.
Good evening. What do you think with GBP? He recovered in pairs?
Reply DmitryP78
GBP should create a double bottom
natural gas is a good trick point bro. thank you.
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