fxpremiere

XAUUSD Uptrend 04 03 2021

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD Uptrend 04 03 2021

As you remember, Gold has been in a downtrend since August 2020. At the same time, it showed strong growth several times, such as in November during the US elections or in January during the Capitol riots. However, in general, the trend continues. Nevertheless, I continue to expect the price to rise. Gold has been in a strong support zone for several days now. In this zone, two lines of August 2020 and May 2016 intersect. The price is testing this zone by means of pullbacks and corrections, and yet I expect that it will soon begin to rise. I expect the price to rise and come to the resistance area of 1800.37.

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