XAUUSD breaks out of the consolidation, 1860 next key level
In my Gold analysis yesterday, I mentioned that breaking the 1815 level will lead to more uptrend.
Although I considered that scenario less likely, US Dollar weakness across the board has led to a
breakout in XAUUSD.
Either way, the next key level is now at 1860 and with the current momentum, it seems quite possible
that Gold bulls will take the price to 1860 by this week itself.
I recommend traders to buy the dips if price drops to the 1815 level with a moderately tight stop loss
and target at 1860.
Although I considered that scenario less likely, US Dollar weakness across the board has led to a
breakout in XAUUSD.
Either way, the next key level is now at 1860 and with the current momentum, it seems quite possible
that Gold bulls will take the price to 1860 by this week itself.
I recommend traders to buy the dips if price drops to the 1815 level with a moderately tight stop loss
and target at 1860.