RationalTrader

I would wait before entering this market atm

FX:XAUUSD   Gold/U.S. Dollar
We got ECB set, and USD moving steady as planned. Oil             is setteling as well. All this gives gold             price a reason do decline. Daily chart shows a big Engulfing candlestick, which is a quite negative sign, -with shadow outside the upper Bollinger band as well. I would wait to see how the price behaves closer to the middle band, before going long which is the main uptrend here. Gold             got quite some catch up after all the USD rent anticipation in 2015.
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